Saffron Building Society has announced cuts to their mortgage rates, making it cheaper to buy your dream home.

In a move designed to help people struggling with the cost of living, Saffron has reduced rates across their “Owner Occupied” range by 0.4%. That means you could save hundreds of pounds every year on your mortgage repayments.

Here’s what’s on offer:

• 85% LTV (Loan to Value): Ideal if you have a smaller deposit.
  • 2-year fixed rate: Now 4.77% (down from 5.17%)
  • 5-year fixed rate: Now 4.37% (down from 4.77%)
• 80% LTV: For those with a slightly larger deposit.
  • 2-year fixed rate: Now 4.67% (down from 5.07%)
  • 5-year fixed rate: Now 4.17% (down from 4.57%)

All these mortgages come with a £999 arrangement fee, which you can choose to add to your loan or pay upfront.

But wait, there’s more! Saffron is also offering free valuations, saving you even more money when you apply for a mortgage.

Tony Hall, Head of Business Development at Saffron, said: “The mortgage market is looking good right now, and we’re thrilled to announce these rate cuts. We know things are tough with the rising cost of living, and these new rates will help make buying a home more affordable.”

This announcement comes hot on the heels of Saffron launching new products for professionals and updating their lending criteria. It’s all part of their plan to help as many people as possible get on the property ladder.