Saffron Building Society has lowered the rates of all products within its first-time buyer (FTB) range.
Notable reductions include the 95% LTV 2-year fix cut from 3.67% to 3.27% and the 95% LTV 5-year fix from 3.87% to 3.57%.
As well as this, the 90% LTV 2-year fix has been reduced from 3.57% to 3.17% and the 90% LTV 5-year fix from 3.77% to 3.47%.
Saffron accepts gifted deposits on all mortgages, including the FTB product range.
Gifted deposits can come from a close family member, which includes parents, siblings, children, aunts and uncles, grandparents and also includes foster and adoptive parents.
Tony Hall, head of mortgage sales at Saffron for Intermediaries, said: “As always, we continue to review our mortgage range so that we not only remain competitive in the market, but also to ensure we offer variety to broker’s clients.
“We are aware that first-time buyers have been unfairly impacted by the pandemic, hence our re-entry with 95% LTV products.
“The reduction in the rates, alongside the free valuation and zero arrangement fee will hopefully offer something enticing to broker’s clients.
“Not forgetting, we offer the option to have a gifted deposit to, for those who may have struggled to save during these uncertain times or if a family member wants to give their loved one a helping hand.”