Saffron For Intermediaries has cut rates and extended the term on several of its mortgages for first-time buyers, the self-employed and contractors.

The new mortgage deals include the following:

First-time buyers:

• 3.57% fixed to 31/10/20 (was 3.97% fixed to 30/06/20)
• 95% maximum LTV
• £30,000 minimum & £500,000 maximum (will consider applications up to £1m within the M25, subject to maximum 95% LTV & underwriter assessment)
• No arrangement fee
• ERC: 3% during fixed period

Self-employed:

To 80% LTV:

• 2.79% variable for 5 years (SVR – 2.6%). Was 3.79%
• £30,000 minimum & £1m maximum
• £625 (was £1,250) arrangement fee
• ERC: None & unlimited overpayments

To 85% LTV:

• 3.67% fixed until 31/01/21 (was 3.97% fixed to 31/01/20)
• £30,000 minimum & £500,000 maximum
• £999 arrangement fee
• ERC: 3% during the fixed period  & overpayments up to 10% per year allowed penalty free

Contractors:

To 80% LTV:

• 2.79% variable for five years (SVR – 2.6%). Was 3.79%
• £30,000 minimum & £1m maximum
• £625 (was £1,250) arrangement fee
• ERC: None & unlimited overpayments

To 90% LTV:

• 3.67% fixed until 31/01/21 (was 3.97% fixed to 31/01/20)
• £30,000 minimum & maximum of £1m to 85% LTV & £500,000 above 85% LTV
• £999 arrangement fee
• ERC: 3% during the fixed period & overpayments up to 10% per year allowed penalty free

Anita Arch, head of mortgage sales at the dedicated intermediary channel of Saffron Building Society, said: “We’re delighted to be making these products even more competitive, by cutting rates and extending the product terms on several products.

“As well as offering great rates, all applications are assessed on their own merits by a skilled underwriter and we guarantee a fast and personal service.”