Saffron for Intermediaries has expanded its Retentions Range with the introduction of new fee-based options and the launch of a joint borrower sole proprietor (JBSP) product.

RESIDENTIAL UPDATES

The lender has added £999 fee products across its residential retention range, covering customers coming off first-time buyer, self-build and contractor or self-employed deals.

The changes mean lower pricing across all segments between 60% and 90% LTV. The lowest rate is now 4.27% for a five-year fix at 60% LTV or below, with a £999 fee.

In addition, Saffron has launched a JBSP retention product, available at 95% LTV. Borrowers can choose between a two-year fix at 5.77% or a five-year fix at 5.67%, both with no fee.

BTL UPDATES

For buy-to-let borrowers, including expats, limited companies and those with historic HMO products, the lender has introduced £1,999 fee options.

This has cut pricing across the fee range by 20 basis points. The lowest rate is 5.07% for a five-year fix at 75% LTV or below, with a £1,999 fee.

Tony Hall, head of business development at Saffron for Intermediaries, 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.

“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.”