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Discounted variable rate

This discounted rate mortgage gives you a set discount off our Standard Variable Rate (SVR) for an agreed period, giving you lower initial monthly payments.

Our discount mortgage does precisely what its name says it will do: it gives you the benefit of a reduced interest rate during the first few years of your mortgage, with the amount of discount depending on the size of your deposit.

 

Product Criteria

  • Free valuation
  • Minimum age 21
  • Interest only or repayment
  • Interest only to 70% max LTV and subject to an acceptable repayment strategy
  • Minimum term: five years
  • Maximum Term 40 Years
  • Minimum loan size: £30,000.
  • Maximum loan size: £1,000,000 up to 80% LTV or £500,000 above 80% LTV. Loans over this are priced on a bespoke basis and have restricted LTV’s
  • The interest rate charged will not fall below 1.74% (the minimum interest rate) at any point during the mortgage.
  • * Overpayments of up to 10% per annum are allowed without penalty

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

Full mortgage range for existing customers

When you take out a mortgage with us, as well as becoming a customer you also become a member. As a Saffron Building Society member you are very important to us and we can offer you much more than just mortgages.

Find out more