It reduces interest rates on several products
Saffron for Intermediaries has reduced rates on several of its mortgage products, aimed particularly at supporting brokers who assist clients seeking substantial financing.
The lender has reduced interest rates on two of its 80% loan-to-value (LTV) owner occupied mortgages. The rate on its two-year fixed rate mortgage has been lowered from 5.67% to 5.37%, with the same reduction applied on the five-year fixed rate large loan product.
These adjustments, Saffron said, are expected to enhance affordability for borrowers requiring loans up to £3 million for owner occupied mortgages and up to £5 million for larger loans within the same category.
In addition to these changes, Saffron has also revised the rate of its Green Residential mortgage. The 80% LTV two-year fixed rate product has also been reduced from 5.67% to 5.37%.
“At Saffron, we put broker feedback at the heart of everything we do, and that becomes even more important when the market is developing so quickly,” said Tony Hall (pictured), head of business development at Saffron for Intermediaries. “We continually review the factors at play, and have made changes to support the large loan market as a result.”
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