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Saffron announces discounted remortgage deals

  • 23/09/2015
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Saffron announces discounted remortgage deals
Saffron for Intermediaries has launched a range of two and three-year low-cost remortgage options with no arrangement fees and £800 cashback.

Both discount deals are available from 60% to 90% loan-to-value (LTV) starting from 1.49% for the two-year deal and 1.89% for three years.

The rate on Saffron’s two-year product goes up to 2.29% for 90% LTV loans and 2.99% for the same LTV on its three-year deal.

The deals have no arrangement fee and come with £800 cashback on completion. To qualify for the deals, borrowers must borrow a minimum of £30,000, with loans up to 80% LTV offering a maximum loan size of £1m and £500,000 for above 80% LTV.

Rates revert to the building society’s standard variable rate, which is currently 5.39%, after the discount period has ended.

Anita Arch, head of mortgage sales (pictured), said: “Remortgaging is on the increase which is great news for brokers, but the sting in the tail with many remortgage products is that they come with hefty up-front fees, which is a disincentive for borrowers.

“We not only wanted to offer low rates, but also no arrangement fees and a cashback that, in the majority of cases, will cover the cost of typical valuation and legal fees.

“These products make remortgaging easy for both borrowers and brokers and help keep the cost of home ownership as low as possible.”

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