Saffron Building Society has lowered prices for all products in its first-time buyers (FTB) line.
Notable reductions include the 2-year 95% LTV patch from 3.67% to 3.27% and the 95% 5-year LTV patch from 3.87% to 3.57%.
Additionally, the 2-year 90% LTV patch has been reduced from 3.57% to 3.17% and the 5-year 90% LTV patch has been reduced from 3.77% to 3.47%.
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Saffron accepts deposits offered on all mortgages, including the FTB product line.
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, Mortgage Sales Manager at Saffron for Intermediaries, said: “As always, we continue to review our mortgage lineup to not only remain competitive in the market, but also to ensure we offer variety to customers. clients of brokers.
“We are aware that first-time buyers have been unfairly impacted by the pandemic, hence our return with 95% LTV products.
“The rate reduction, along with the free valuation and zero arrangement fees, will hopefully provide something attractive to brokerage clients.
“Let’s not forget that we are offering the option of having a deposit as a gift for those who may have struggled to save in these uncertain times or if a family member wishes to lend a helping hand to a loved one. . “