First-time Buyers
Lenders reduce mortgage rates
Saffron,Yorkshire Building Society and Precise Mortgages have all cut the cost of deals.
Specialist lender Saffron For Intermediaries, which offers mortgages through advisers, has reduced rates on both its 95% Next Step and Buy to Let Light Refurbishment mortgages, cutting from 5.99% to 5.39% on Next Step, which is offered up to a maximum of £500,000.
On its refurbishment buy-to-let loan it has cut the interest rate charged from 5.89% to 5.23%. the loan is available up to 75% loan-to-value (LTV) of the end-value for purchase or remortgage.
Saffron For Intermediaries launched its ‘Special Situations’ range of mortgages in March this year designed for borrowers who do not fit mainstream criteria.
Meanwhile, Yorkshire Building Society intermediary lender Accord Mortgages has cut rates by up to 0.35% and introduced a series of new mortgages available up to 80% LTV.
Rates on the 80% LTV products start at 2.24%, at 1.99% on 75% LTV products and 1.94% at the 65% LTV level.
In another launch, Precise Mortgages has opened up its Home Owner range to first-time buyers with rates starting from 3.79% at 85% LTV.
The move allows FTBs to access its Almost Prime and Near Prime range without LTV restrictions.