Saffron For Intermediaries, the dedicated broker channel of Saffron Building Society, has announced the relaunch of its mortgage range, which will be available from 31st October 2013.
Highlights of the updated range include:
• No Early Repayment Charges on any mortgage products, leaving borrowers free to move their mortgage as and when they please
• Capital repayment incentive enabling the self-employed, professionals and contractors to benefit from reduced interest rates when they pay-off capital and improve their LTV
• New expat buy-to-let mortgage up to 65% LTV, enabling those working abroad to invest in UK property
• New 3 year discount mortgage now with the option for borrowers to choose between a lower fee or a lower rate, starting from 3.89%
• 95% mortgages for both first-time buyers and next steppers offering competitive rates, application fees and no ERCs
• Enhanced criteria, rates and arrangement fees on most products, giving applicants’ greater choice, lower costs
Peter Izard, Head of Mortgages, said:
“We’re delighted to be launching our revamped product range, which has been designed to incentivise responsible borrowing by rewarding capital repayments and by not locking-in borrowers with early repayment charges. We believe there’s something for everyone, whatever their situation may be.”
“The range includes a new buy-to-let deal for expats and we also have 95% deals for both first-time buyers and next-steppers with very competitive rates, low fees and no ERCs. Products that brokers will be familiar with from our previous range are still available including our popular self-build and buy-to-let light refurbishment mortgages.”
Saffron For Intermediaries does not use credit scoring, preferring instead to let skilled underwriters assess each application on its own merits. Brokers can access the new product range via a panel of distributors which includes 3mc, AToM, Brightstar, Complete FS, L&G Network, Platinum Options and tbmc.