IMPORTANT INFORMATION

We currently have a 5 working day SLA.

Please bear with us and you will receive an update as soon as we get to your application in our work queue.

Please ensure to allow this timeframe prior to requesting an update.

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:

For new business enquires:

Sophie Gould: 01799 582923

Legal & General,SimplyBiz

email: sophie.gould@saffronbs.co.uk

Holly Andrews: 01799 582885

3mc – Packager & Club,Brightstar – Packager & Club,Brilliant Solutions Mortgage Club,Complete FS,Impact Specialist Finance,Mortgage Intelligence,Next Intelligence,Openwork,Platinum Options,PMS,Positive Lending Mortgage Club & Packager,Quilter,Sesame,TBMC,Tenet,TMA,Vantage Finance

email: holly.andrews@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
Head Office

Saffron House, 1A Market Street,
Saffron Walden,
Essex CB10 1HX.
Telephone: 01799 522211

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:

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Register for the Intermediary Mortgage Portal:

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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

COVID 19 Update – Physical Valuations

We would like to thank you for your continued support during this COVID-19 pandemic, and as you are aware we have adapted as best we can to continue business as usual during this time.

We are pleased to announce that our panel valuers Connells will begin to accept physical valuation instructions starting this week. For Connells and ourselves the safety of Valuers, clients, and indeed occupants is paramount. To this extent, Connells have confirmed:

  • They remain committed to follow Government guidelines regarding the health and safety of their staff and the customers with whom they come into contact.
  • All surveyors have been provided with PPE and training on its use and disposal.
  • A detailed risk assessment will be undertaken at the time of booking appointments to establish clear and secure inspection protocols with property occupiers.
  • Surveyors will conduct a second risk assessment with the occupier immediately prior to inspection to ensure those protocols have been followed, safe distancing will be respected and the property is ready to inspect, thereby ensuring the mutual safety and comfort of the property occupier and the surveyor.

There will of course be a backlog of cases that are being booked in. If you have an application in progress with us and it is awaiting a physical valuation we hope that these will be instructed within 10 working days from today.

Our processing team will notify you via email when the valuation has been instructed and you will also receive an email when the valuation has been booked, along with when the report has been returned.

If you have not had an update on your valuation within 10 working days please do contact our processing team on 01799 582 966 option 1 or mortgage.processing@saffronbs.co.uk for further assistance. It is important that you do allow this time-frame prior to requesting an update, to ensure we can concentrate on getting the physical inspections instructed in a timely manner.

Saffron for Intermediaries – COVID-19 Update

We would like to thank all our intermediaries for their continued support during this pandemic.

We have made some changes to how we operate to ensure we can continue to support you and enable to you to submit business to us. These changes are designed to make the process as smooth as possible for you and your clients in these challenging times.

Product withdrawal

As of 5pm on the 7th April, all products above 80% loan to value have been temporarily withdrawn from sale.

Documentation update

Whilst the COVID-19 pandemic and the government restrictions continue, we have decided to:

  • Accept electronically certified ID and Proof of Residency.
    We understand that different systems are used to electronically identify customers and we will therefore require the electronic check to be uploaded to the Portal, with the uncertified ID and Proof of Residency.
  • Accept photographs of all documentation (providing they are clearly legible) if the mortgage broker, or their client(s), is unable to scan them.

Valuations update

Where cases meet eligibility criteria* applications up to 80% loan to value we will be instructing a desktop valuation.
For any applications fully submitted with fees paid received before 5pm on Tuesday 7th April that are above 80% loan to value we will be adopting the following process:

  • Once the case has been assessed by our underwriters they will instruct an internal desktop valuation
  • On receipt of an acceptable desk top valuation a non-binding mortgage offer will be issued.
  • A full physical valuation will be carried out as soon as this is possible and on receipt of an acceptable valuation the case will be reviewed by our underwriters to ensure there have been no material changes, once this has been confirmed a binding offer will be issued.

*If a case does not meet criteria to allow a desk top to be carried out the case can be placed on hold until a full valuation can be completed and you will be notified of this and asked to confirm how you wish to proceed.

Self-Build applications

We can still accept self-build applications, however a valuation will not be instructed until a physical valuation can be carried out and the case will be placed on hold, this may cause a delay in the customer’s application.

Should you have any other further questions please refer to your dedicated BDM, details can be found on our Broker Support page

Saffron introduces improved Retirement Interest Only (RIO) Mortgage range

NEW Fixed rates, reduced rates and lower fees

With an 88% growth in households headed by someone aged 65 predicted by 2041* Saffron Building Society is developing its specialist mortgage range for retirees to accommodate the increased demand already being seen from brokers servicing this sector.

Saffron’s latest addition to its Retirement Interest Only (RIO) mortgage products includes new fixed rates options; reduced rates on existing RIO mortgages and lower fees across the RIO range. The introduction of these latest improvements gives retired customers further opportunity to stay in their homes for longer, or to unlock the value of their properties freeing up cash to enable wider lifestyle opportunities.

3.14% 3 Year Discount Retirement Interest Only Mortgage POA
3.44% 3 Year Discount Retirement Interest Only Mortgage
3.37% fixed until 31.01.2023 Retirement Interest Only Mortgage POA
3.67% fixed until 31.01.2023 Retirement Interest Only Mortgage

Key Features

3.14% ((SVR-2.5%) to 50% LTV – requires a Power of Attorney (POA) to be in place for applicant
3.44% (SVR-2.2%) to 50% LTV
Arrangement fee: £499
Early Repayment Fee: 3% for 3 years
Overpayments: 20% penalty free per annum
Loan: Min loan £30K, Max loan £1M
Repayment: Interest only
Purpose: Purchase or re-mortgage

3.37% to 50% LTV – requires a Power of Attorney (POA) to be in place for applicant
3.67% to 50% LTV
Arrangement fee: £999
Early Repayment Fee: 3% for 3 years
Overpayments: 20% penalty free per annum
Loan: Min loan £30K, Max loan £1M
Repayment: Interest only
Purpose: Purchase or re-mortgage

Who would a RIO Mortgage appeal to?

The RIO products will appeal to different market segments depending on their needs:

  • The mortgage allows borrowers to protect the equity in their home and/or release equity to support their lifestyle such as looking after family members, residential care or home improvements.
  • People with an interest only mortgage, who have a repayment vehicle in place, can choose to use their capital for other purposes.
  • Borrowers with an interest only mortgage, who do not have a repayment vehicle, can use this product to stay in their property for longer.

To help Brokers identify potential customers, Saffron have provided some hypothetical examples to illustrate the types of customers that could benefit from the RIO product.

Anita Arch, Head of Mortgage Sales at Saffron Building Society said: “We continually review the market to see where new opportunities are emerging for our broker partners. The retirement sector is definitely one area to keep an eye on in terms of new selling opportunities – as such we have redefined our RIO mortgage range to accommodate the increasing demand in this specialist area.
Many consumers don’t think it’s possible to obtain a mortgage in retirement let alone get one that can help fund a lifestyle. People are living longer and are expecting to maintain a certain standard of living during this time. One of the key benefits associated with our RIO products is the opportunity for customers to utilise the capital linked to homeownership providing a popular way for them to finance living in later life.
We will be pleased to speak with our broker partners to outline in more detail the growth opportunities in the retirement mortgage market.”

Full product details can be found here and you can easily submit a case via our online broker portal.

If you have any questions please speak with our Business Development Mangers, who will be happy to help:

Holly Andrews: 01799 582885
Gemma Reynolds: 01799 582925

New reduced rates for Saffron’s self-employed and contractor mortgages

Saffron Building Society has announced reduced rates and extended terms on self-employed and contractor mortgages as the lender continues to develop its specialist situations range.

Self-employed mortgages, available to customers with one year’s trading accounts:
• 3.07% fixed until 31.01.2022 Self Employed, 80% LTV
• 3.57% fixed until 31.01.2022 Self Employed, 90% LTV

Contractor mortgages, available to customers working on a contract basis:
• 2.87% fixed until 31.01.2022 Contractor, 80% LTV
• 3.37% fixed until 31.01.2022 Contractor 90% LTV

Saffron’s ongoing review of market needs has prompted the Society to customise its mortgage offering in this sector to enable applicants to have increased options and access to competitive mortgage products.

The number of self-employed workers has steadily increased in the UK since 2001 and now account for around 15% of the working population* giving intermediaries a growing market to service and offer tailored mortgage solutions. Saffron’s revamped range of mortgages in this niche area has been designed to fulfil this opportunity with unique new features including an LTV of up to 90%.

5 Years Fixed Rates – Self Employed

Rate: 3.07% (SVR-1%) to 80% LTV
Loan: Min loan: £30K, Max loan: £1K

Rate: 3.57% (SVR-1%) to 90%
Loan: Min loan: £30K, Max loan: £500,000

Arrangement fee: £999
ERC: 2 % for 2 years
Purpose: for purchase or remortgage.
Term: 40 years

5 Years Fixed Rates – Contractor

Rate: 2.87% (SVR-1%) to 80% LTV
Loan: Min loan: £30K, Max loan: £1K

Rate: 3.37% (SVR-1%) to 90%
Loan: Min loan: £30K, Max loan: £500,000
Arrangement fee: £999
ERC: 2 % for 2 years
Purpose: for purchase or remortgage.
Term: 40 years

Anita Arch, Saffron’s Head of Mortgage Sales comments: Long gone are the days of a job for life or income being generated from just one source each month. Self-employment and contract work is most definitely on the up with 4.8 million choosing to work this way according to the Office for National Statistics.**

This shift in working patterns gives a fantastic sales opportunity for brokers. Using a specialist lender is a proven way to successfully fulfil a customer’s mortgage needs when they choose to work like this and don’t necessarily fit into standard lending criteria.

All applications made with Saffron are individually assessed by a skilled underwriter giving brokers customers an efficient and personal service taking into account what can sometimes be a unique employment situation.”

Full product details can be found here and you can easily submit a case via our online broker portal.

If you have any questions please speak with our Business Development Mangers, who will be happy to help:

Holly Andrews: 01799 582885
Gemma Reynolds: 01799 582925

Saffron’s Retirement Interest Only (RIO) Mortgage offers further options to an ageing population

Saffron Building Society has announced that its Retirement Interest Only (RIO) Mortgage is now available across its entire network of broker partners giving retired customers opportunity to stay in their homes for longer, or to unlock the value of their properties freeing up cash to enable wider lifestyle opportunities.

3-year discounted Rates:

3.34% ((SVR-2.3%) to 50% LTV – requires a Power of Attorney (POA) to be in place for applicant
3.64% (SVR-2.0%) to 50% LTV

Arrangement fee: £999
Early Repayment Fee: 3% for 3 years
Overpayments: 20% penalty free per annum
Loan: Min loan £30K, Max loan £1M
Min Term: 5 Years
Max Term: None
Repayment: Interest only
Purpose: Purchase or re-mortgage

Who would it appeal to?

The new RIO product will appeal to different market segments depending on their needs:

  • The mortgage allows borrowers to protect the equity in their home and/or release equity to support their lifestyle such as looking after family members, residential care or home improvements.
  • People with an interest only mortgage, who have a repayment vehicle in place, can choose to use their capital for other purposes.
  • Borrowers with an interest only mortgage, who do not have a repayment vehicle, can use this product to stay in their property for longer.

To help Brokers identify potential customers, Saffron have provided some hypothetical examples to illustrate the types of customers that could benefit from the RIO product.

Life expectancy

In 1982, average life expectancy in the UK was 72 — just seven years beyond men’s default retirement age of 651 but things are changing. Now, life expectancy has risen to a level not seen in previous generations, people can choose when they leave the workforce and they have far more options on how to live their lives after full time employment. Saffron is developing products like RIO to fulfil shifting needs.

Anita Arch, Head of Mortgage Sales at Saffron Building Society said: “Many consumers don’t think it’s possible to obtain a mortgage in retirement let alone get one that can help fund a lifestyle. People are living longer and are expecting to maintain a certain standard of living during this time.
At Saffron, we don’t believe customers should be limited by ‘everyday’ products – we like to be flexible and are increasingly offering more options in the ‘specialist’ space to meet customer needs more appropriately. Our RIO product utilises the capital linked to homeownership and is becoming a popular way to finance living in later life. We look forward to reaching out to more and more brokers with this latest mortgage so they have a further option to offer to those in retirement.”

Brokers can easily submit a case via our online broker portal.

If you have any questions please speak with our Business Development Mangers, who will be happy to help:

Holly Andrews: 01799 582885
Gemma Reynolds: 01799 582925

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