Mortgage range for existing customers

Important update on fixed rate retention products

Some of our fixed rate retention products were withdrawn at 5pm on Wednesday 25 March.

We always aim to give customers as much notice as possible. However, please note that we reserve the right to withdraw products at any time.

If you had already secured a product through our Retentions team prior to this time, you will not be affected by this change.

If you’re considering a product transfer and have not yet secured a rate, please contact our Retentions team to discuss the options currently available.

These products are available for existing Saffron customers whose current mortgage deal is coming to an end.

You can view our products by clicking here

If you’re an existing Saffron customer and your current mortgage deal is coming to an end, transferring to a new product could reduce your monthly payments and is simple to do.

We’ll write to you about three months before your deal ends to remind you about our product transfer options. You’ll also find our latest rates below, but please remember these rates can change at any time and without notice.

If you want to transfer to a new product, you have three options to choose from. Our rates are the same whichever option you choose:

Option 1: If you know what product you want and do not need advice, call us and tell us which product. It is important to understand that you will be fully responsible for any choices you make and will not benefit from the protections that come with receiving professional advice.

Option 2: You can speak to your mortgage broker for independent advice. They can manage the product transfer process for you but may charge a fee to do this. You’ll need to share the Authentication Code and your latest House Price Index (HPI) Loan-to-Value. You’ll find both of these on the letter we send you before your current deal ends.

Option 3: If you do not have a broker and need advice or want to make changes to your mortgage, contact our Mortgage team who can arrange this for you and answer any questions. 

When you transfer products we’ll run a credit check but this won’t affect our decision. We don’t ask for proof of income or spending unless you’re making other changes to your mortgage at the same time (e.g. borrowing more money).

Mortgage Repayment Calculator

Get an estimate of what your monthly payments would be for a particular loan amount, mortgage product and repayment method by clicking here.

Mortgage Product Switch Request

To find out more about changing your existing Saffron mortgage, you can read more here.

Representative Examples

Residential Retention

Residential Retention Life of Loan Discounted 95% LTV

For a mortgage of £143,215.40 borrowed over 18 years 1 months, you'll need to make:

• 217 monthly repayments of £1,164.91. You'll pay this at a discounted rate for Life of Loan at 6.99%.

The total amount you'd need to pay would be £254,030.38, made up of the loan amount (£143,215.40), plus interest (£106,674.21) , a product fee of Nil and a mortgage exit fee of £80.

The overall cost for comparison is 7.2% APRC representative.                                                         

Residential Further Advance

Residential FADV 2 Years Discounted 80% LTV

For a mortgage of £60,000.00 borrowed over 19 years 0 months, you'll need to make:

• 24 monthly repayments of £422.57.  You'll pay this at a discounted rate for 2 Years at 5.39%, followed by
• 204 monthly repayments of £472.99. You'll pay this at a 1% discount off our Standard Variable Rate, which is currently at 7.99%.  This gives an SVR rate of 6.99%. 

The total amount you'd need to pay would be £106,711.64, made up of the loan amount (£60,000.00), plus interest (£46,711.64), a product fee of Nil and a mortgage exit fee of £80. 

The overall cost for comparison is 6.9% APRC representative. 

Buy to Let Retention

BTL Retention Life of Loan Discounted 80% LTV

For a mortgage of £158,264.66 borrowed over 14 years 4 months, you'll need to make:

• 172 monthly repayments of £1,504.04. You'll pay this at a discounted rate for Life of Loan at 7.49%.

The total amount you'd need to pay would be £260,278.92, made up of the loan amount (£158,264.66), plus interest (£97,566.54), a product fee of Nil and a mortgage exit fee of £80. 

The overall cost for comparison is 7.8% APRC representative.

Buy to Let Further Advance

BTL FADV 2 Years Discounted 80% LTV

For a mortgage of £60,000.00 borrowed over 19 years 0 months, you'll need to make:

• 24 monthly repayments of £284.67.  You'll pay this at a discounted rate for 2 Years at 5.69%, followed by
• 204 monthly repayments of £399.73. You'll pay this on our Standard Variable Rate, which is currently at 7.99%.

The total amount you'd need to pay would be £148,692.00, made up of the loan amount (£60,000.00), plus interest (£88,692.00), a product fee of Nil and a mortgage exit fee of £80.

The overall cost for comparison is 7.9% APRC representative.