Saffron for Intermediaries to run self-build ‘Spring sale’

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Saffron Building Society is running a ‘Spring sale’ on its self-build mortgages.

The sale includes a 1 per cent discount off mortgage rates currently on offer, as well as fees being cut from 2 per cent to 1 per cent.

Saffron head of mortgage sales Anita Arch says: “Spring is traditionally the time when self-build projects get underway and we therefore thought a mortgage sale would be a welcome offer.

“Our sale means that self-builders can borrow at variable rates starting from just 4.59 per cent on an interest only or repayment basis, for a period of up to two years.

“With the fee also being cut in half to just 1 per cent, I have no doubt this will prove to be popular with anyone thinking about building their dream home or converting or refurbishing an existing structure.”

Self-build mortgages are available from £30,000 up to £500,000, but the lender will consider applications of up to £1m.