Saffron For Intermediaries has revamped its complete range of mortgages for the self-employed and contractors.
Rates and fees have been reduced and all discounts are ERC free. There is also a new 90% LTV fixed rate for the self-employed and a new 60% LTV band has been introduced for borrowers with significant equity who want to remortgage or move home.
Key features include the following:
Self-employed
Available to anyone (including first-time buyers) who is self-employed with trading accounts of one year or more.
3-year discounted Rates:
2.49% (SVR-2.9%) to 60% LTV
2.79% (SVR-2.6%) to 80%LTV
3.39% (SVR-2.0%) to 90% LTV
All are ERC free and have an arrangement fee of £499.
2.49% (SVR-2.9%) to 60% LTV
2.79% (SVR-2.6%) to 80%LTV
3.39% (SVR-2.0%) to 90% LTV
All are ERC free and have an arrangement fee of £499.
Fixed Rates:
3.27% fixed until 30/04/21 to 80% LTV
3.77% fixed until 30/04/21 to 90% LTV
Both products have an ERC of 3% until the end of the fixed rate period and an arrangement fee of £999.
3.27% fixed until 30/04/21 to 80% LTV
3.77% fixed until 30/04/21 to 90% LTV
Both products have an ERC of 3% until the end of the fixed rate period and an arrangement fee of £999.
Terms: for purchase or remortgaging. Max mortgage period: 40 years.
60% & 80% LTV Min loan £30K, Max £1m
90% LTV Min loan £30K, Max £500k
Loans over the max amounts will be considered, however rates may be bespoked.
Contractors
Available to individuals (including first-time buyers) working on a contract basis.
3-year discounted Rates:
2.39% (SVR-3%) to 60% LTV
2.69% (SVR-2.7%) to 80%LTV
3.29% (SVR-2.1%) to 90% LTV
All are ERC free and have an arrangement fee of £499.
2.39% (SVR-3%) to 60% LTV
2.69% (SVR-2.7%) to 80%LTV
3.29% (SVR-2.1%) to 90% LTV
All are ERC free and have an arrangement fee of £499.
Fixed Rates:
3.17% fixed until 30/04/21 to 80% LTV
3.67% fixed until 30/04/21 to 90% LTV
Both products have an ERC of 3% until the end of the fixed rate period and an arrangement fee of £999.
3.17% fixed until 30/04/21 to 80% LTV
3.67% fixed until 30/04/21 to 90% LTV
Both products have an ERC of 3% until the end of the fixed rate period and an arrangement fee of £999.
Terms: for purchase or remortgaging. Max mortgage period: 40 years.
60% & 80% LTV Min loan £30K, Max £1m
60% & 80% LTV Min loan £30K, Max £1m
90% LTV Min loan £30K, Max £500k
Loans over the max amounts will be considered, however rates may be bespoked.
Loans over the max amounts will be considered, however rates may be bespoked.
Anita Arch, head of mortgage sales at Saffron, said: “The self-employed and contractors are a growing sector of our national workforce and these enhancements will help them to drive-down the cost of either purchasing or remortgaging property.
“We’re now offering a choice of either fixed rates to end April 2021, or ERC free 3-year discounts allowing borrowers to make unlimited overpayments without penalty. All products are also available on an interest-only basis up to 70% LTV.”
