For Residential Retention (including those customers coming off first time buyer, self-build and contractor/self-employed deals), Saffron has introduction of £999 fee products priced lower in all segments (60%-90% LTV).

The lowest rate is a 4.27% five-year fix with £999 fee, for 60% LTV and below.

It has also launched a JBSP Retention product, available in two  and five -year fixes at 95% LTV for 5.77% and 5.67% respectively, which is fee free.

For BTL Retention (including expat, limited company and historic HMO products), the lender has introduced £1,999 fee products, reducing pricing across the range for fee products by 20bps.

The lowest rate offered is a  5.07% five-year fix with £1,999 fee for 75% LTV and below.

Commenting on the product changes Saffron for Intermediaries head of business development Tony Hall said: “We’re excited to add fee options to our Retentions Range. These new products give brokers more flexibility to tailor solutions for their clients, whether that means choosing a lower rate with a fee or a fee-free option with slightly higher repayments.”

He added: “Importantly, brokers will continue to receive 0.35% proc fees on all retention business, ensuring they’re rewarded for the advice and support they provide. And this isn’t the end – these updates are just the first in a series of enhancements we’ll be making this month, so watch this space!”