Intermediary only lenders Accord and Saffron bring new products to the market

Saffron for Intermediaries has launched a new selection of three-year fixed mortgages, and intermediary-only lender Accord Mortgages expands its two-year tracker offering with mortgages starting from 1.29%.

Saffron for Intermediaries has widened its options for contractors and self-employed borrowers with a three-year fixed rate mortgage at 75% loan to value (LTV).

Its professional 75% LTV mortgage option is available at a three-year fixed rate of 3.27%, and penalty free overpayments of 15% per year are allowed.

Arrangement fees are £1,250 for self-employed and contractors, and £1,550 for professionals, with minimum loans of £30k up to a maximum of £1m.

The early repayment charge across the range is 3% of the outstanding balance during the fixed rate period.

Anita Arch, head of mortgage sales at Saffron of Intermediaries, said:

“At a time when there is growing speculation about a possible rate rise this year, these fixed rates give the self-employed, contractors and professionals the opportunity to lock into today’s low mortgage rates and benefit from the certainty they offer.”

Intermediary-only lender, Accord Mortgages, which is part of Yorkshire Building Society Group, has also increased it offering to include a range of two-year tracker products starting from 1.29%.

The new products on offer include: a 1.29% two-year tracker mortgage at 65% LTV, a 1.44% two-year tracker mortgage at 75% LTV, a 1.54% two-year tracker mortgage at 80% LTV, a 1.79% two-year tracker mortgage at 85% LTV and a 2.34% two-year tracker mortgage at 90% LTV.

All options come with a £845 product fee.

David Robinson, national intermediary sales manager, Accord Mortgages, said:

“The new mortgages demonstrate our ongoing commitment to offering borrowers and brokers value for money over a wide range of mortgages.

“We understand that this is a busy time of year for brokers, as many home-owners will be thinking about moving or remortgaging. We think these rates will prove to be attractive to brokers looking to offer their clients competitive mortgages across a range of loan-to-value tiers.”