Saffron for Intermediaries has revealed a selection of new three and five year fixed rate deals this week, all of which are now available for homeowners and first time buyers. The launch now includes a three year fixed rate of 2.07% up to 80% loan to value (LTV) for house purchase or remortgage with a £995 arrangement fee, or a five year fixed rate of 2.27% up to 80% LTV with a £1,495 arrangement fee.
A house purchase only deal is also now available from the lender at 3.97% for three years up to 95% LTV, which is aimed at first time buyers as it comes with no arrangement fee.
This selection of products all come with a 10% overpayment allowance per year, which is calculated by the size of the capital borrowed at the start of the loan, and allow for loans up to £1 million.
The new launch from Saffron looks to help existing homeowners and first time buyers receive greater benefits from the many low rates currently available, so they can lock-into a fixed term while offers from the majority of lenders remain so competitive.
Elsewhere in the mortgage market, Natwest has also been reducing rates on a large selection of its three year fixed products available for both purchase mortgages and remortgages.
Changes to the lender’s core intermediary range include new two, three and five year fixed rate deals for first time buyers, with first time buyer only rates now starting from just 2.31% at 80% LTV or 2.40% at 85% LTV, which is reduced from 2.87%.
Meanwhile for purchase mortgages, rates from the lender have witnessed generous reductions from 2.54% to 1.75% for two year fixed rates, or 1.98% down from 2.56% for a three year fixed rate.