It also introduces new two-year fixes for first-time buyers
Saffron for Intermediaries has made rate reductions on a number of its products, including self-employed, contractor, limited company buy-to-let, and joint borrower sole proprietor mortgages.
The lender has also lowered the rates of first-time buyer and owner occupier mortgages, while also introducing first-time buyer two-year fixed rates at 6.67% for 90% loan-to-value (LTV) and 6.97% for 95% LTV.
The new first-time buyer deals both have a maximum loan size of £1 million up to 90% LTV or £500,000 above 90% LTV, and a maximum repayment term of 40 years.
Saffron also pulled out some of its products, including several retrofit, contractor, and first-time buyer mortgages.
“At Saffron, we are committed to continually monitoring our product proposition to remain relevant in the market,” said Tony Hall (pictured), head of business development at Saffron for Intermediaries. “The market never stands still, and neither do we.
“It’s important to us that we support those with specialist needs and complex sources of income. Many borrowers are underserved by the mortgage industry due to their particular circumstances, and we are working hard to make mortgage finance accessible to all.”
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