A few weeks back, Brian blogged about the Cambridge Building Society’s 95% LTV (Loan to Value) mortgages. Since then, the Saffron Building Society has announced two new 95% LTV products in its intermediary range.
Their first-time buyer focused product is a two-year fixed-interest mortgage, and they also have have a “second-stepper” for people wanting to buy their second home.
Saffron’s head of mortgages, Peter Izard summed it up:
“We’re delighted to be launching our revamped product range, which has been designed to incentivise responsible borrowing by rewarding capital repayments and by not locking-in borrowers with early repayment charges.
“We believe there’s something for everyone, whatever their situation may be.”
Between the Cambridge and Saffron, Cambridge residents are lucky to have two building societies fighting for their business. We seem to be saying it a lot recently, but here goes: competition and more choices for buyers means good news for Cambridge!
If you’re looking for a first-time, second-time, or – well, you get the picture – give us a call.