Saffron has cut rates across four of its owner occupied products, including its large loan product, which caters for loans of up to £5 million with a 0.20% rate cut
Saffron for Intermediaries has announced rate cuts across its entire product range and introduced new options for its contractor and self employed products.
Saffron has cut rates across four of its owner occupied products, including its large loan product, which caters for loans of up to £5 million with a 0.20% rate cut. 90% loan to value rates are now available at 4.77% fixed for five years and 5.17% fixed for two years.
Rate cuts have been applied to eight products within Saffron’s contractor and self employed ranges, including a notable 0.60% cut on its 80% LTV two and five-year fixed rate contractor products, now at 5.47% and 5.07% respectively.
The full series of new rates includes the introduction of an 85% loan to value range. For contractors and self employed borrowers, 85% loan to value two-year fixed rates have launched at 5.67% and five-year rates at 5.37%.
Rate cuts also include the new professional income boost range released last month, with each product receiving rate cuts of 0.30%. These products are available to young professionals in selected industries who meet the relevant criteria, and could achieve a loan-to-income ratio of up to 5.5 times. Rates now start from 4.97% at 80% loan to value, 5.07% at 85% loan to value and 5.17% at 90% loan to value.
Additionally, Saffron has applied rate cuts to its FTB products, with its 90% LTV two-year fixed-rate product seeing a 0.4% reduction to 6.07%.
Tony Hall, head of business development at Saffron for Intermediaries, said: After cutting rates in our owner occupied range last month, we are excited to extend further rate cuts across our full product range, helping more borrowers access affordable options. With rate cuts of up to 60 bps and the introduction of our 85% LTV range, those who need up to 85% LTV can now access even more affordable rates, ensuring they are not paying the same as customers requiring 90%, making homeownership more achievable for them.
