Saffron Building Society has slashed mortgage rates across the board, making it cheaper for first-time buyers, home movers and those looking to remortgage.

Good news for borrowers! Saffron has reduced rates on all of its mortgage products, with some fixed-rate deals falling by as much as 0.6%.

Here are the key takeaways:

• Cheaper deals for contractors and the self-employed: Two-year fixed rate mortgages are now available from 5.47% and five-year fixed rates from 5.07%
• Lower rates for everyone else: Five-year fixed rates for homebuyers with a 10% deposit are now available from 4.77%
• Help for first-time buyers: Two-year fixed rate mortgages for those with a 5% deposit are now available from 6.47%

Boost for Professionals

Last month Saffron launched a new range of mortgages specifically for young professionals in certain industries. These deals offer the potential to borrow more with a loan-to-income ratio of up to 5.5 times your salary. Good news for those in these professions as Saffron has cut rates on these products too.

What Saffron says

Tony Hall, head of business development at Saffron, said: “We’re excited to extend further rate reductions across our full product range, helping more borrowers access affordable options.

“These moves not only ease the cost of buying or moving home but also reflect growing optimism in the mortgage market for new buyers, home movers, and those refinancing.”

What this means for you:

This is welcome news for anyone looking to buy a home or remortgage. With rates falling, now could be a good time to lock in a new deal. Speak to a mortgage broker to see what deals are available.