Saffron offers 90% LTV to first-time buyers

Saffron Building Society, the regional building society serving East Anglia, announces the launch of a new three-year fixed mortgage, and the opening of a current mortgage to first time buyers in the Society’s branch catchment areas.

The Home Buyers mortgage, fixed at 5.89 per cent offers a 90 per cent LTV and is available to local buyers through Saffron’s branches.

Andy Golding, chief executive, Saffron Building Society, said: “The mortgage market is starting to pick up momentum and declines in property prices has brought home-ownership closer for many first time buyers. We want to offer suitable mortgage funding both for those trying to get on the property ladder and for those hoping to move or remortgage, but deterred by deals that are restricted to 60-75 per cent LTV.”

He added: “Helping local first time buyers is always a clear steer from our members when I talk to them. This kind of initiative is exactly what a regional mutual should be doing to help our community.”