Saffron for Intermediaries is the latest lender to reduce the cost of borrowing, trimming rates by 30bps on three of its owner-occupied and green residential mortgage products.
All three mortgages will now charge a rate of 5.37%, down from 5.67%. In its owner occupied range this includes its two-year fix, at 80% LTV. This is available on loans up to £3m.
For borrowers looking to access larger finance packages, Saffron has also made the same price reduction to its five-year fixed-rate large loan product. This is available at 80% LTV but with a maximum loan of £5m.
In addition Saffron has reduced the rate on its two-year green residential mortgage, again at 80% LTV. This is now also priced at 5.37%.
Saffron for Intermediaries head of business development Tony Hall said these moves were in response to broker feedback, which he says became more important when the market was developing quickly. “We continually review the factors at play, and have made changes to support the large loan market as a result.”
