The lender is cutting the fees from 1% to 0.5% for a limited period on its 75% loan-to-value (LTV) and 80% LTV self-build products.

The 75% LTV covers 65% of the purchase price, 100% of the build costs and 75% maximum gross development value. The 80% LTV mortgage, meanwhile, covers 80% of purchase price, 80% of the build costs and 80% maximum gross development value.

John Penberthy-Smith, CCO of Saffron Building Society, said: “We are experts in providing mortgages for self-build/new build projects and we are delighted to make self-build developments even more affordable.

“While a self-build project might seem like a daunting undertaking, especially for first-time buyers, it can actually be a hugely rewarding way to get onto the property ladder- or update and grow your existing home.

“At Saffron, our self-build mortgage is designed to embrace the unusual, traditional and modern methods of construction. Our specialist team has a wealth of experience and don’t have a ‘tick box’ approach to assessing projects.

“To help self-builders, the structure of the lending also is incredibly flexible, releasing funds at pre-set stages of the development to assist with cashflow meaning we could be the ideal partners to transform your self-build project dreams to a reality.”

In order for applications to be considered, Saffron requires full planning permission, detailed architectural drawings, alongside a schedule of works and costings.