Help them fly the nest

Gifted deposits for first time buyers

Help your children on the property ladder by gifting them the deposit for their first home.

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Real help for first time buyers

So you’re looking to take the plunge and buy your first home. It’s an exciting time. But we realise that it can also be a little daunting so we’re here to help you every step of the way.

Because we take a more personal approach, our Mortgage Advisers will guide you through the process, answer any questions and together we’ll work out how we can help you based on how much you can comfortably afford.

The good news is that we offer competitive rates and you’ll only need a minimum of 5% of the value of your new home as a deposit. That can really help to get you on the property ladder and perhaps leave you with some money to spend on your new home.

Hints and tips for first time buyers

Whether you are a first time buyer, a landlord looking to expand your portfolio or own your own business, we can help.

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The costs involved in buying your first home or a new home

We want to draw attention to the major costs involved in moving house for those planning their budget.

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Mortgages explained

At Saffron Building Society, we understand that sometimes mortgages can seem very confusing. But when stripped back to the basics, they’re quite easy to understand. That is why we have created a guide to mortgages that will help you make sense of the transaction you may be about to enter into and a step-by-step guide to applying for a mortgage and how your Saffron Mortgage Adviser will help you every step of the way.

Your home may be repossessed if you do not keep up repayments on your mortgage

Our first-time-buyer mortgages

ProductInitial ratethen changing to our SVR, currentlyThe overall cost for comparison isProduct periodDeposit requiredArrangement fee
First Time Buyer 95% Fixed Rate Mortgage3.57% Fixed5.39%5.1% APRCFixed until 31/10/20205%NoneMore
First Time Buyer 95% Fixed Rate Mortgage3.97% Fixed5.39%5.0% APRCFixed until 30/09/20215%£495More
First Time Buyer Two Year Discount Mortgage4.49% Variable5.39%5.4% APRCtwo years5%NoneMore

Representative example:

The following representative example is intended to allow you to easily compare products across lender and does not reflect what your actual monthly payment or APRC could be. Please contact us if you have any questions regarding this.

A mortgage of £294,530 payable over 35 years, initially on a Fixed rate Until 31.08.2017 at 4.47% and then on our current Standard Variable Rate Mortgage of 5.39% (variable) for the remaining 33 years 6 months, would require 18 monthly payments of £1,388.42 and 402 monthly payments of £1,555.68.

The total amount payable would be £651,559.98 made up of the loan amount plus interest (£357,059.98), an application fee of £135 and a redemption fee of £130.

The overall cost for comparison is 5.4% APRC representative.

Talk to us today

To arrange an appointment with one of our Mortgage Advisers call us free on:0800 072 1100or complete the form below:

Thank you for your enquiry.

A Mortgage Adviser will be in contact with you within 3 working days.