Having re-entered the 95 per cent LTV market for new homeowners earlier this year, the mutual has made reductions across four products.
These include a two-year and five-year fixed rate, both at 95 per cent LTV with rates of 3.27 per cent and 3.57 per cent respectively – previously 3.67 per cent and 3.87 per cent.
For a 90 per cent LTV, the two-year and five-year fixed rate have been cut to 3.17 per cent and 3.47 per cent respectively – previously 3.57 per cent and 3.77 per cent.
Saffron accepts gifted deposits on all mortgages, including the first-time buyer range. Gifted deposits can come from a close family member, which includes parents, siblings, children, aunts and uncles, grandparents and also includes foster and adoptive parents.
Tony Hall (pictured) head of mortgage sales at Saffron for Intermediaries said: “As always, we continue to review our mortgage range. We are aware that first-time buyers have been unfairly impacted by the pandemic, hence our re-entry with 95 per cent LTV products.
“The reduction in the rates, alongside the free valuation and zero arrangement fee will hopefully offer something enticing to broker’s clients. Not forgetting, we offer the option to have a gifted deposit to, for those who may have struggled to save during these uncertain times or if a family member wants to give their loved one a helping hand.”