The lender has launched an 80% LTV 2-year fix at 3.07% which includes no arrangement fee, no application fee and free valuation, and an 80% LTV 2-year fix at 2.97% which includes a £999 arrangement fee.

It has also introduced a 90% LTV 2-year fix at 3.77% with no arrangement fee, no application fee and free valuation, and a 90% LTV 2-year fix at 3.67% with a £999 arrangement fee.

Tony Hall, head of mortgage sales at Saffron for Intermediaries, said: “Following the unexpected market boom during the pandemic, we are still seeing incredible buoyancy as a surge of homeowners look to remortgage and take advantage of lower rates.

“Our ongoing product review allows us the opportunity to see where we can improve, amend or introduce mortgage products to ensure brokers and their clients have the widest possible choice.

“In response to this, we have not only reviewed the rates of our products, but also provided some flexibility with the additional benefit of having, or not having, an arrangement fee to reduce the fixed term rate – which allows the applicant a choice depending on their preference.”