31 January 2010

Saffron Building Society announces new Mortgages

Saffron Building Society, the regional building society serving East Anglia, announces the launch of a new 3 year fixed mortgage, and the opening of a current mortgage to first time buyers in the Society's branch catchment areas.

The Home Buyers mortgage, fixed at 5.89% until 30/11/12 offers a 90% LTV and is available to First Time Buyers in the area local to Saffron's branches.*

The new mortgage, open to new and existing customers, is fixed at 5.29% until 28.02.13 and is available up to 80% LTV.

Andy Golding, Chief Executive, Saffron Building Society, said: "The mortgage market is starting to pick up momentum and declines in property prices has brought home-ownership closer for many first time buyers. We want to offer suitable mortgage funding both for those trying to get on the property ladder and for those hoping to move or remortgage, but deterred by deals that are restricted to 60%-75% LTV."

"Helping local first time buyers is always a clear steer from our members when I talk to them. This kind of initiative is exactly what a regional mutual should be doing to help our community." He Added.

* Saffron's catchment area is:
Essex
Hertfordshire
Cambridgeshire
Norfolk
Suffolk
London postcodes beginning with 'E'.

This is a limited offer and Saffron Building Society reserves the right to withdraw product offers.

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