Saffron Building Society has launched its summer mortgage campaign for brokers.
The campaign will introduce a series of offers throughout the summer, launching today with a new offer on its self build mortgage range.
The ‘Summer Mortgage Deals from Saffron’ campaign have a dual benefit, the mutual cliams. Firstly, to widen the appeal of the lender’s mortgage range by adding wider and more competitive products, better rates and removal of application fees. And secondly, as the economy takes its toll on brokers’ clients, the deals feature lower upfront fees to reduce the initial costs of getting clients into new homes this summer.
The society has focused its first summer offer on its self build mortgage range. It is discounting the rates on these products to absorb the SVR increase forced by the recent base rate rise from the Bank of England. This is in place across the self build and self build large loan mortgage range, providing discounted rates:
- self build (up to £1m), 75% LTV, 2 Year Fixed – Discount Rate: 3.79%
- self build (up to £1m), 80% LTV, 2 Year Fixed – Discount Rate: 3.99%
- self build Large Loan (£1-2m), 75% LTV, 2 Year Fixed – Discount Rate: 4.49%
- self build Large Loan (£1-2m), 80% LTV, 2 Year Fixed – Discount Rate: 4.69%
In addition, Saffron’s summer deal on its self build products provides an upfront saving as the society includes removes the application fee on the new, discounted rate products.
Further cost savings are returned to brokers’ clients with a reduced product fee across the self build mortgage range.
Tony Hall, head of mortgage sales at Saffron Building Society, said: “We are determined to celebrate this scorching summer with some tempting deals for brokers and their clients. We know times are tough so we have worked hard to bring together updates that will offer immediate upfront cost savings for mortgage applicants, that we hope will help to alleviate the strain of the rising cost-of-living.
“I am delighted to launch this summer of deals with the most significant saving ever seen on self build mortgages. By absorbing the SVR increase through reducing the rates we are offering the two-year fixed rate at a discount throughout the summer, presenting a longer term saving for the borrower.
“Combine that with a discounted product fee and an upfront saving by removing the application fee, it has never been a better time for self build dreamers to swap the sun hat for the hard hat. We are ready to support brokers and will provide plenty of information in the coming days, on our website and across our social media channels in the coming days and weeks.”