View more on these topics

Saffron launches 2.57 per cent five-year fix

Portfolio-Fixed-Income-Bonds-Currency-UK-700x450.jpg

Saffron For Intermediaries is launching a limited edition five-year fixed rate mortgage for owner-occupiers.

The product’s rate is 2.57 per cent until 30 September 2021, then standard variable rate with a minimum of 2 per cent afterwards, up to 75 per cent LTV.

The loan is available for house purchase or remortgage, between £30,000 and £1m.

There is a £1,495 arrangement fee.

Overpayments of up to 10 per cent a year are allowed, and early repayment charges are 3 per cent of the outstanding balance during the fixed rate period.

Saffron head of mortgage sales Anita Arch says: “We’re delighted to be launching this highly competitive five-year fixed rate deal, which enables borrowers to lock into today’s low interest rates.

“Borrowers will also benefit from Saffron’s individual underwriting which is not dependent on credit scoring and intermediaries will receive a fast and efficient service.”

Saffron Building Society has also recently updated its affordability calculator to include up-to-date household spending data from the Office for National Statistics.

Recommended

Business-Handshake-Finance-Deal-700.jpg

Field set to be new Saffron CEO

Saffron Building Society has promoted Colin Field to the position of chief executive designate. Field, a qualified chartered accountant and currently the society’s chief financial officer, is expected to be fully in the post on 1 September. In the meantime, he will act as deputy CEO. Current interim CEO Mike Kirsch has agreed to stay […]

Business-Handshake-Finance-Deal-700.jpg

Saffron promotes Colin Field to chief executive

Saffron Building Society has promoted Colin Field to the position of chief executive designate. Field, a qualified chartered accountant and currently the society’s chief financial officer, is expected to be fully in the post on 1 September. In the meantime he will act as deputy chief executive and the current interim chief executive, Mike Kirsch, […]

Saffron BS records huge increase in annual lending

Saffron Building Society lent a record £240m to mortgage borrowers last year. This represents a 39.5 per cent increase on the £172m lent by Saffron in 2013. The mutual’s 2014 annual report, which was published last week, shows it made a £3.8m pre-tax profit last year, up from £3.1m the year before. Its total assets […]

Creating opportunity out of change

By Denise Wond, marketing manager The buy-to-let market has recently been the subject of a raft of tax changes, all of which make it a less profitable and less appealing proposition for investors. In response, we’ve seen a dip in demand for BTL mortgages and that’s bad news for many advisers who will now be looking […]

Canada Life annual IHT survey results

75% of wealthy unaware of new residence nil rate band IHT allowance Just 4% were aware the new allowance will be up to £175,000 per individual Lack of awareness of IHT rules means families risk paying a bigger bill than they need 83% think the current inheritance tax rules are far too complex A remarkable […]

Newsletter

News and expert analysis straight to your inbox

Sign up