Saffron For Intermediaries has extended its range of professional mortgages to now include a 90% LTV product.
The deal is a 3.99% five-year discount mortgage with an arrangement fee of £1,550.
Borrowers can repay capital at any time and reduce their mortgage rate if they move into a lower LTV band, with no additional fee. In addition, there is no early repayment charge.
It is available for house purchase or remortgage on repayment basis only, and the minimum and maximum loan sizes are £30,000 and £500,000 respectively.
Anita Arch, head of mortgage sales at the dedicated broker channel of Saffron Building Society, said: “We’ve listened carefully to feedback from brokers and have extended our professional range to include a 90% LTV deal. This will be particularly attractive to qualified professionals in the early stages of their careers, who have the ability to pay-down their debt as they continue to move up their chosen career ladder.
“Key features of all our professional mortgage deals include a tailored affordability calculator which includes a lifetime revert rate that is 1% below our standard SVR. Borrowers can also repay capital and benefit from a reduced mortgage rate, if their loan moves into a lower LTV band. There is no additional charge for this service.”
