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Saffron BS relaunches JBSP mortgage at 95 per cent LTV and removes fees

  • 24/02/2021
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Saffron BS relaunches JBSP mortgage at 95 per cent LTV and removes fees
Saffron Building Society has relaunched its joint borrower sole proprietor (JBSP) mortgage at 95 per cent loan to value (LTV) and removed arrangement and valuation fees.


The product is currently the mutual’s only offering at 95 per cent LTV, is fixed for five years and has a rate of 4.17 per cent. It also accepts gifted deposits from close family members. 

Saffron shortly re-entered the 95 per cent LTV lending tier in June last year, before withdrawing again due to high demand. Last month, it increased lending up to 90 per cent LTV with intermediary exclusive products. 

Tony Hall, interim head of mortgage sales at Saffron Building Society, said: “As a society we are always monitoring our products to make sure we are not only competitive but offer an array of mortgages that clients are requesting of their brokers.  

The JBSP is a hero product at Saffron, so we are delighted to have removed the arrangement fee and – in line with some of our other products – added free valuation too. 


Expat BTL launch 

Saffron Building Society has also added a buy-to-let mortgage for expats, which is a two-year fixed at 75 per cent LTV. 

The mortgage has a rate of 3.77 per cent and is available to borrowers in countries outside of the European Economic Area (EEA). It is also open to first-time buyers and first-time landlords. 

Additionally, the mutual has reduced the arrangement fee for the newly launched deal and its existing five-year expat buy-to-let mortgage to 1.5 per cent. 

Hall added: The buy-to-let range has seen a few changes already in 2021, and we are delighted to add a two-year fixed expat buy-to-let product in this area.  

Our expat products are very successful, with a strong interest from the USA, Australia, and New Zealand. The next obvious step was a two-year, and this is now available immediately for our intermediary partners.”  


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