IMPORTANT INFORMATION

The Saffron for Intermediaries team are currently experiencing a high number of telephone and email enquiries.

The BDM team are responding to email and calls on the same working day. Can we please ask that you do not duplicate voicemails to the BDM team, this will enable us to come back to you sooner. Many thanks for your patience at his time.

Decision in Prinicple referrals will be looked at within 6 working days.

New and Existing Applications - Our processing and underwriting team are working at 12 working day SLAs due to the high volume of applications we are experiencing.

You are required to provide a full packaged case upon submission of the full mortgage application. Please bear with us and you will recieve and update when your application is being reviewed. Please do not call or email our processing team for an update unless you are outside of this 12 working day timeframe.

This website is for use by intermediaries only

Contact Us

Lines are open Monday to Friday 9AM - 5PM, except Wednesday 9:30AM - 5PM

If you want to talk to us, please use one of the numbers below:

Important Information

To say thank you to our colleagues across the society for their efforts during the Covid-19 pandemic, our branches, head offices and contact centre will be closed on 1 September. Thank you for your understanding.

For new business enquiries:

01799 582 925

email: bdm.enquiries@saffronbs.co.uk

For cases in progress call:

Mortgage Team: 01799 582966

email: mortgage.processing@saffronbs.co.uk

For technical support call:

01799 582966 option 2

Intermediary Mortgage Portal

The Mortgage Portal enables you to select a Saffron mortgage product, request a DIP, submit a full mortgage application and monitor all your clients' cases.

Login to the Intermediary Mortgage Portal:

LOGIN

Register for the Intermediary Mortgage Portal:

REGISTER

Frequently Asked Questions

For any queries take a look at our FAQs or our Quick Start Guide.

If you still require further help you can contact us on 01799 582966 and select option 2.

News

Does Your Client Have A Contract On Their Head?

Most lenders assess applicants’ employment status in very binary terms: they are either employed or self-employed.

Increasingly, however, more people are opting to become contractors and, according to data from the Interim Management Association, it’s a sector that has grown by 93% since the pre-credit crunch days of 2006. In total, there are estimated to be 15,000 top-flight interims (according to MORI research) and a further 80,000 management consultants. The interim sector is estimated to be worth £1.5bn a year and the consultancy sector a further £8.5bn.

In summary, the contractor market is big by any standards and it’s continuing to grow. Senior contractors typically demand rates of between £1,000 and £2,000 a day and generate substantial incomes.

Surprisingly, very few lenders know how to treat contractors when it comes to assessing their mortgage applications, because neither the employed nor self-employed models work terribly well for this group.

Which is precisely why Saffron For Intermediaries decided to include a Contractor Mortgage as part of our Special Situations range. The product is aimed specifically at individuals working on a short-term contract basis and has been designed with the following features:

• Available up to 90% LTV
• Applicants annual income is assessed based on their daily charging rate x 5 x 48
• Discounted rates start from 3.99% for 80% LTV loans, rising to 4.99% for 90% LTV loans, with no early redemption penalties
• A limited tranche of fixed rate funding is also available, with 2 year fixed rates starting from 3.57%
• An innovative capital repayment facility* which enables borrowers to repay capital and reduce their mortgage rate, if they move into a lower LTV band (there is no additional fee for this facility)
• There are no restrictions on the type of contractors we will accept
• Applicants require a minimum of just 6 months contracting history, for loans up to 80% LTV (rising to 2 years’ history at 90% LTV)

As with all our mortgages, we assess each application based on its own merits and we don’t use automated credit-scoring systems.

Applications should be supported by documentary evidence of current and past contracts, along with the last six months invoices and bank statements showing all invoice credits. We would also like to see a copy of the applicants CV showing their previous employment history.

Work patterns are continuing to change in the UK and we believe it’s important that lenders’ product and services keep up with those changing patters.

If you have a client with a contract on their head, then come and speak to us at the Saffron!
**ends**

* The capital repayment facility is available with discounted variable rate products only. It is not available with fixed rates.

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Best Service from a Mortgage Provider - Moneyfacts Awards 2014