Saffron updates range with new self-build mortgage.
A new product aimed at those who are building their own homes has been revealed by Saffron for Intermediaries.
The new offer includes interest only repayment for 24 months, no inflexible stage payments, facility for funds to be drawn down as needed and the ability to switch to another product or lender after the initial 2 years.
The mortgage is offered at a rate of 4.20%, which is a 1.19% from the lender’s SVR, for up to 65% LTV of the cost of the plot. Saffron offer loans for between £30,000 and £1million.
Applications will also be accepted from those who have never had a mortgage before.
The new product has been released by the lender in response to feedback from its customers and is meant to offer an increased level of flexibility.
If you are one of a growing number of self-builders looking for a cost-effective way of financing your home, compare the range of products available from across the UK with Deal Direct.
We can help you find a mortgage that fulfils all your borrowing needs and offers the greatest value while you build your new home.
Call 0800 048 8828 for expert advice on all mortgages.
