Important Message
Bank of England Base Rate
On 5 November 2026, the Bank of England announced a 0.25% Increase in its base rate from 3.75% to 4.00%.
From 1 December 2026 our Standard Variable Rate (SVR) will increase to 8.24%.
Product Transfer Criteria
Retention products are available to existing SBS customers only.
The following customers/situations are not permitted to switch to a new product:
- Commercial
- A mortgage loan that has had an Arrears Ratio of greater than 1.0 at any month end in the last 12-months. Head of Underwriting discretion available to approve beyond this in exceptional circumstances.
- Property let without consent or suspected of having done so
- Let with consent – these must remortgage onto a Consumer BTL when they reach the end of the product term.
- BTL mortgage that is currently occupied by the borrower with consent – these must remortgage onto a Residential basis when they reach the end of the product term.
- Mortgages that are currently in breach of contract
- Shared Ownership
If you have any questions do reach out to the IST team at ist@saffronbs.co.uk or call us on 01799 582925