Saffron BS spices up mortgage range

Saffron Building Society, the regional mutual serving East Anglia, today announces that it has launched five new mortgage products aimed at the residential and buy-to-let markets.

Saffron has launched three purchase and remortgage loans including a lifetime tracker mortgage at 2.99 per cent above base rate with a current rate of 3.49 per cent offered at 80 per cent LTV. The mutual is also offering a lifetime tracker mortgage at 3.49 per cent above base rate with a current rate of 3.99 per cent at 85 per cent LTV and a two-year fixed mortgage at 4.49 per cent which requires a 20 per cent deposit.

Saffron also has two new buy to let mortgages, which have a maximum loan value of GBP 500,000 and minimum of GBP 50,000. The buy-to-let two-year tracker is offered at 4.09 per cent above base rate with a current rate of 4.59 per cent and requires a 25 per cent deposit and a five-year fixed rate is offered at 5.98 per cent with the same terms.
All loans are manually underwritten and available to new and existing borrowers.
John Eastgate, sales & marketing director of Saffron Building Society, said: “As a regional building society serving a local community, we have been able to listen to our members needs and offer a set of mortgage products that gives them, and new members’, the best value possible. We assess each individual application on its own merits rather than relying on credit scoring. This means that we are ideally placed to ensure borrowers get the best mortgage for their circumstances.”