Saffron Building Society has unleashed a highly competitive three-year fixed rate mortgage for first-time buyers onto the market, earning it the top accolade as a result.
This mortgage has an eye-catching rate of 3.97% fixed until 31.5.19, the lowest rate currently offered in its sector. It is available at a loan-to-value (LTV) of 95% and has absolutely no product fees.
The finer details…
This deal is available exclusively for first-time buyers with a modest deposit of just 5%. There are no incentives accompanying the mortgage, but borrowers do have the opportunity to make overpayments of up to 10% of the outstanding balance per annum.
Why we like it…
This newcomer has certainly made waves in the first-time buyer market by offering those with modest deposits a highly competitive rate. The fact that it also has absolutely no product fees further sweetens the deal, while the ability to make overpayments gives it some welcome flexibility. This is an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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