Saffron Building Society has launched ‘Let’s get them home’, a campaign which includes a reduction in rates across select products, and the introduction of a 95% loan-to-value (LTV) residential mortgage.
The society has launched a 95% LTV 2-year fix at 2.77%, and a 90% LTV fixed rate contractor mortgage.
It has also reduced rates for first-time buyers on select 90% and 95% LTV 2 and 5-year products.
The lender is still offering one 2-year and one 5-year deal with no arrangement fee, and it has reduced its joint borrower sole proprietor (JBSP) product rate.
Tony Hall, head of mortgage sales at Saffron Building Society, said: “We don’t use the phrase common-sense lending loosely; it is part of our ethos at Saffron.
“We know that every applicant has their own story.
“Therefore, we have spent a long time perfecting our application process, making it easier, more efficient, and accessible for brokers to submit applications.
“Including the ability to submit bespoke and atypical information in support of applicants who might have a unique story we must understand.
“The introduction of a 95% LTV mortgage for existing homeowners is a healthy addition to our range when considering the current marketplace.
“The requirements for our homes are changing, with many now working from home and re-evaluating their living space.
“However, some may not quite have the equity in their home or the ability to save a large deposit to make that move.
“This product provides a solution to those clients and can get them home in early 2022 with some new reduced rates.
“At Saffron we are always improving products and looking for ways to ensure we have plenty on offer for broker’s clients – providing a wider choice when choosing a mortgage.
“Whether they are an existing homeowner, are looking for a greener alternative or a first-time buyer.
“We hope we can now provide brokers with the opportunity to get them in their new home as the new year breaks.”