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Saffron extends professional mortgage range

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  • 14/08/2015
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Saffron extends professional mortgage range
Saffron for Intermediaries has extended its range of professional mortgages to include a 90% loan-to-value (LTV) deal.

The five-year discounted mortgage comes at a rate of 3.99% which reverts to a rate of 4.39% and includes a £1,550 arrangement fee.

With no early repayment charge the mortgage allows borrowers to repay capital at any time and reduce the mortgage rate if they move into a lower LTV band, with no additional fee.

The deal is available to house purchase or remortgage on a repayment basis only with a minimum loan size of £30,000 up to a maximum of £500,000.

Anita Arch, head of mortgage sales (pictured), 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.”

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