Latest product offers market leading rate to build dream home*
Saffron Building Society has launched a new lower rate, self-build mortgage of 3.99%. This latest offering gives mortgage intermediaries a strong option to kick start business in 2019 through this market leading rate.
Average savings of 15-20%** are being made by ‘self-builders’ compared to the cost of buying the same property so demand for this new mortgage offering is expected to be high across the UK.
This unique, low rate self-build mortgage includes the following features:
• Every application is manually assessed by a specialist self-build underwriter
• Flexible stage payments; funds are released in stages that can be tailored to each individual project
• Available to first time buyers
• Up to five times income considered on applications, assessed on a case by case basis
• Custom-build developments are also accepted
Rate: 3.99% (SVR -1.65%) to 75% LTV
Arrangement fee: 1%
Early Repayment Charge (ERC): None
Loan: Min loan £30k, Max loan £1m
Term: 24 months
Repayment: Interest only
Purpose: For purchase or remortgaging
Maximum Age: No maximum
Anita Arch, Saffron Building Society’s Head of Mortgage Sales said: “The popularity of self-builds is noticeably growing with more and more support available to turn ideas into reality. Self-build projects don’t need to be construction from scratch. They can be renovations to an existing property, or conversions to a barn, basement, loft or garage. In essence, any large extension could be classified as a self-build construction.
Saffron has years of experience providing finance for people looking to build their own ‘dream homes’ – we believe this new lower rate mortgage opens up possibilities to even more self-builders!”
If you have any questions please speak with our Business Development Mangers, who will be happy to help:
Holly Andrews: 01799 582885
Katie Sharpe: 01799 582923
Gemma Reynolds: 01799 582925
**National Custom and Self Build Association (NaCSBA)