15 July 2009
Saffron Building Society supports local first time buyers
Saffron Building Society, the regional building society serving East Anglia, announces the launch of a new first time buyer mortgage for people purchasing a home in Saffron's branch catchment areas in East Anglia.
The new first time buyer mortgage is fixed for 2 years and will offer a 90% LTV with a competitive interest rate of 5.65%. Saffron Building Society is also offering first time buyers the chance to save £200 on their mortgage fees if they are an existing member of the society or someone in their family is a member *.
Andy Golding, Chief Executive, Saffron Building Society, said: "The mortgage market is currently dysfunctional; property has become much more affordable for first time buyers but there is a distinct lack of suitable mortgage funding available to them. Whilst Saffron clearly can not get the whole UK housing market moving again, assisting those buying within our area is a good start and I hope that other regional lenders will follow suit."
Helping local first time buyers is always a clear steer from our members when I talk to them. First time buyers are critically important for the market as a whole as the catalyst for the rest of the chain. This kind of initiative is exactly what a regional mutual should be doing to help our community." He Added.
« In the News* The member must have £1000 savings with Saffron Building Society. Full fees for FTB mortgage product are £495.
This is a limited offer and Saffron Building Society reserves the right to withdraw product offers.
