Saffron for Intermediaries has launched two new 95% loan-to-value (LTV) first-time buyer (FTB) mortgages.
The products, which include a 2-year fixed rate at 3.67% and a 5-year fixed at 3.87%, are offered with no arrangement fee and free valuation.
Alongside the launch of the two new products, Saffron has also relaunched two of the 90% LTV first-time buyer products with improved rates.
The two mortgages, one 2-year fixed rate and a 5-year fixed, offer reduced rates of 3.57% and 3.77% consecutively and additionally benefit from no arrangement fee and free valuation.
Tony Hall, head of mortgage sales at Saffron, said: “We have been planning a return to 95% lending for some time and wanted to make sure we had the best possible products to come back to the market with.
“We are delighted not only to offer these great new products but also provide some additional benefits including no arrangement fee and free valuation too.
“Whilst building these new products, we have also taken the opportunity to review our existing 90% LTV products, and have – from today – reduced the rates to bring both the 2-year and 5-year products in line with the market position.”