19 November 2009
Saffron Building Society Launches New Fixed Rate Mortgage
Saffron Building Society, the regional building society serving East Anglia, announces the launch of a new competitive 3 year mortgage fixed at 5.89%.
The mortgage, which is ideal for homeowners looking for the security of a regular mortgage repayment which is not subject to interest rate fluctuations, is fixed at 5.89% until 30th November 2012. With an LTV of 90% it is designed specifically with those remortgaging in mind.
Once the fixed rate period ends customers will receive Saffron's standard variable rate (SVR) - currently 5.39% -the terms of which they will remain on for the life of the loan.
John Eastgate, Sales and Marketing Director of Saffron BS said:
"Having launched a mortgage directed at first time buyers earlier in the year, we wanted to offer homeowners a great mortgage product.
"Our 5.89% 3 year fixed rate mortgage comes with a minimum of 10% deposit. This level of deposit can be hugely beneficial to those customers with a strong credit history that have been caught by the negative equity trap.
"In addition to the rate we have some attractive features including free valuation and free basic legal work on remortgage cases."
This is a limited offer and Saffron Building Society reserves the right to withdraw product offers.
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