For the self-employed, the society is offering a 3.07 per cent, five-year fixed rate mortgage with an 80 per cent loan to value (LTV) and 3.57 per cent five-year fixed rate mortgage with a 90 per cent LTV.
Its contractor five-year fixed rate mortgages are offered at 2.87 per cent with 80 per cent LTV and 3.37 per cent fixed at 90 per cent LTV.
The number of self-employed workers has increased in the UK since 2001 and now accounts for around 15 per cent of the working population.
Anita Arch, Saffron’s head of mortgage sales, said: “This shift in working patterns gives a fantastic sales opportunity for brokers. Using a specialist lender is a proven way to successfully fulfill a customer’s mortgage needs when they choose to work like this and don’t necessarily fit into standard lending criteria.”
Accord improves cashback offers
Accord has increased the cashback offered on its range of 95 per cent LTV remortgage products to provide additional benefits for customers with lower equity.
Borrowers looking for a five-year fixed rate can now get £750 cashback on a 95 per cent LTV remortgage product at a rate of 3.73 per cent, with free valuation and a £495 product fee. Alternatively, those remortgaging with five per cent equity could choose a five-year fix at 3.79 per cent with £500 cashback, free legals, free valuation and no product fee.
Selected five-year fixed rates have been reduced by up to 0.11 per cent and selected three-year fixed rates reduced by up to 0.05 per cent. All products in the Accord range have had the end dates extended to 31 January.
Jemma Anderson, product manager at Accord Mortgages, said: “As one of the few lenders to offer 95 per cent LTV remortgage options we’ve had a positive response from intermediaries and have updated the range to ensure we continue to offer great value and choice to those looking for lower equity products.”
Foundation Home Loans reduces rates on selected five-year BTL deals
Foundation Home Loans, the intermediary-only lender, has reduced rates on selected products across its core buy to let (BTL) F1 and F2 product ranges by up to 0.10 per cent.
The lender has made cuts on several of its five-year fixed rate products, which apply to both limited company and individual BTL clients, with rates down by as much as 10 per cent across its 65-75 per cent LTV bands.
Rates changes have also taken place on its five-year remortgage special, which also includes a free standard valuation and £250 cashback upon completion.
Jeff Knight, director of marketing at Foundation Home Loans, said: “In the current climate, many landlords are looking for stronger levels of payment security – coupled with an array of options and a certain degree of flexibility where possible. The demand for five-year fixed rate deals continues to rise and, here at Foundation Home Loans, we will continue positioning ourselves at the forefront of the BTL lending landscape to help all landlord clients bolster or better manage their portfolios.”