Saffron for Intermediaries has announced improvements to its product range including its Self-Employed, Contractor, Limited Company Buy to Let, and Joint Borrower Sole Proprietor mortgages.

The move is the latest in a series of upgrades to the lenders’ proposition, intended to support more complex borrowing requirements and drive business in the larger loan market.

Saffron has reduced rates across its range, including on its First-Time Buyer, Self-Employed and Owner Occupier mortgages, as well as reintroduced 90% and 95% LTV two-year fixed rate First-Time Buyer mortgages. The latter both have a maximum loan size of £1,000,000 up to 90% LTV or £500,000 above 90% LTV, and a maximum repayment term of 40 years.

The full list of new rates and products is as follows: 

• 80% LTV 2-year fixed rate of 6.07% (Self-Employed)
• 80% LTV fixed rate of 5.97% (Self-Employed)
• 80% LTV fixed rate of 5.97% (Owner Occupier)
• 90% LTV fixed rate of 6.07% (Owner Occupier)
• 80% LTV fixed rate of 5.97% (Retrofit)
• 80% LTV 2-year fixed rate of 6.07% (Contractor)
• 90% LTV 2-year fixed rate of 6.27% (Contractor)
• 90% LTV 5-year fixed rate of 5.87% (First-Time Buyer)
• 95% LTV 5-year fixed rate of 6.07% (First-Time Buyer)
• [Reintroduced] 90% LTV fixed rate of 6.67% (First-Time Buyer)
• [Reintroduced] 95% LTV fixed rate of 6.97% (First-Time Buyer)
• 95% LTV 5-year fixed rate of 6.17% (Joint Borrower Sole Proprietor)
• 75% LTV 5-year fixed rate of 6.17% (Limited Company Buy to Let)

The full list of products that have been withdrawn as part of the overhaul is as follows:

• 80% LTV fixed rate of 6.17% (Owner Occupier)
• 90% LTV fixed rate of 6.27% (Owner Occupier)
• 80% LTV fixed rate of 6.17% (Retrofit)
• 80% LTV fixed rate of 6.47% (Self-Employed)
• 80% LTV fixed rate of 6.27% (Self-Employed)
• 80% LTV fixed rate of 6.37% (Contractor)
• 90% LTV fixed rate of 6.47% (Contractor)
• 90% LTV 5 year fixed rate of 6.37% (First-Time Buyer)
• 95% LTV 5 year fixed rate of 6.57% (First-Time Buyer)
• 95% LTV 5 year fixed rate of 6.67% (Joint Borrower Sole Proprietor)
• 75% LTV 5-year fixed rate of 6.47% (Limited Company Buy to Let)

Tony Hall (pictured), head of business development at Saffron for Intermediaries, said: “At Saffron, we are committed to continually monitoring our product proposition to remain relevant in the market. The market never stands still, and neither do we. It’s important to us that we support those with specialist needs and complex sources of income. Many borrowers are under-served by the mortgage industry due to their particular circumstances and we are working hard to make mortgage finance accessible to all.”