Saffron for Intermediaries is launching two new deals and cutting some rates by as much as 60 basis points in a major reprice on Wednesday.

Other lenders cutting rates this week include Yorkshire Building Society, Santander, Accord and TSB.

Saffron’s biggest rate cuts are as follows:

• Its large loan five-year fixed rate for owner occupiers at 80% LTV, is dropping by 60 bps from 5.37% to 4.77%, while the £1,495 fee remains unchanged.
• Its two-year fixed for owner occupiers at 80% LTV is being cut by 30 bps from 5.67% to 5.27% with the same £999 fee
• Its retro fit two-year fix at 80% LTV is going down by 40 bps from 5.67% to 5.27% also with a £999 fee

Saffron is also adding two new products to its range:

• A two-year fix for owner occupiers at 85% LTV with a £999 fee at 5.37%
• A five-year fix for owner occupiers at 85% LTV with a £999 fee at 5.47%

A couple of expat buy-to-let rates are also dropping:

• A five-year fix at 75% LTV with a £2,500 fee is going down by 20 bps from 5.87% to 5.67%
• A two-year tracker at 75% LTV with a £1,995 fee is being reduced by 10 bps from 6.09% to 5.99% (SVR -2.8%)