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“So far in 2024, we are seeing a more diverse range of borrower profiles than ever before and at Saffron, we are working hard to adapt and ensure that our product range reflects this variety.”
– Tony Hall, head of business development at Saffron for Intermediaries

Saffron for Intermediaries has announced widespread rate reductions of up to 0.80% across its residential, first-time buyer and buy-to-let product ranges.

The largest decrease is to a 90% LTV five-year fixed rate residential product, down by 80bps to 4.97% with a £999 fee. An 80% LTV five-year fix has reduced by 20bps to 4.97% while a new two-year fixed rate green product at 80% LTV has launched at 5.67%. Both products come with a £999 fee.

First-time buyer rates have reduced by up to 0.60%, with the largest cuts to five-year fixed rates at 90% and 95% LTV, reduced to 5.27% and 5.47% respectively. A two-year fixed rate at 90% LTV is down by 20bps to 6.47% and a two-year fix at 95% LTV has reduced by 30bps to 6.67%. In addition, a 95% LTV five-year fixed rate JBSP product is down by 20bps to 5.97%. All first-time buyer products feature no arrangement fee.

Rate reductions of 10bps have also been made to two of Saffron’s self-employed mortgages. A two-year fix at 80% LTV has reduced to 5.97% and a five-year fix at 90% LTV is down to 6.27%, both with a £999 fee.

Saffron requires just one year’s accounts and will also consider using the latest year’s income, even if there has been a significant increase from previous years.

The lender has also reduced one of its rates for contract workers. An 80% LTV five-year fix has reduced to 5.17% with a £999 fee.

Across Saffron’s buy-to-let range, rates have reduced by up to 0.60%, with the largest increase to a 75% LTV five-year fix, now available at 5.27% with a £1,999 fee.

A five-year fixed rate expat product at 75% LTV has reduced by 0.40% to 5.87% with a 1.5% arrangement fee, and Saffron has also introduced an equivalent product with a fixed £2,500 arrangement fee, also available at 5.87%. This is the first time that Saffron has offered different arrangement fee structures on the same product.

Tony Hall, head of business development at Saffron for Intermediaries, commented: “So far in 2024, we are seeing a more diverse range of borrower profiles than ever before and at Saffron, we are working hard to adapt and ensure that our product range reflects this variety.

“While keeping our rates as competitive as possible, we are also proud to offer products that can cater to borrowers that other lenders might shy away from. We look forward to working with brokers to help their customers take advantage of today’s new rates and products.”





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