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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:

Gemma Reynolds: 01799 582925

John Charcol, L&G, L&G Mortgage Club and all affiliated firms, LargeMortgageLoans.com

email: gemma.reynolds@saffronbs.co.uk

Katie Sharpe: 01799 582923

Impact Specialist Finance, Intrinsic, PMS Club, Sesame, Tenet

email: katie.sharpe@saffronbs.co.uk

Holly Andrews: 01799 582885

3mc; 3mc Club, Brightstar; Brightstar Club, Complete FS, Knight Frank Finance, Mortgage Intelligence, Next Intelligence, Platinum Options, Positive Lending (UK) Ltd; Positive Lending Club, Private Finance, Private Label, Sammon Mortgage Management Ltd, TBMC, TMA Mortgage Club, 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. Designed to be easy to use and all of the instructions you need are on each screen but if you need it there's also a Quick Start Guide.

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Frequently Asked Questions

For any queries take a look at our FAQs or if you still require further help you can contact us on 01799 582966 and select option 2.

News

Saffron launches new Lending into Retirement mortgage for clients looking to downsize when the time comes

Option for loan to be repaid after borrowers have retired

Saffron Building Society has launched a new ‘Lending into Retirement Downsizing’ mortgage. This product gives brokers a golden opportunity to help service the lending requirements of an *increasing number of older households.

Saffron’s latest offering is an interest only mortgage, available to customers looking to borrow into their retirement. The product will allow customers to use downsizing as their repayment vehicle with the ability to repay the loan after they have retired. This repayment method and a wide variety of retirement incomes will be considered. All applications will be individually assessed by a skilled underwriter giving an efficient and personal service.
Applicants will need a minimum equity in their property of £250,000 however consideration will be given to applications below this equity level when alternative customer assets are in place or if it is appropriate to the location.

3 Year Discount Rate

Rate: 2.94% (SVR-2.7%) to 60% LTV
Arrangement fee: £999
Early Repayment Charge (ERC): 2% for 3 years
Loan: Min loan £30K, Max loan £1M
Term: Min mortgage term 5 years; Max mortgage term determined by ONS tables
Repayment: Interest only, overpayments of up to 10% allowed per annum without penalty
Purpose: For purchase or remortgaging

Anita Arch, Saffron Building Society’s Head of Mortgage Sales said: “Some people don’t think it’s possible to get a mortgage in their 50s and 60s as retirement approaches. At Saffron, we don’t believe you should be limited by your age and we like to be as flexible as possible. You may be approaching retirement and have seen a property you want to call home but lenders have already said no. We say, let’s talk further and see what we can do to help.”

Arch added: “Our ‘Lending into Retirement Downsizing’ mortgage is a standard interest only mortgage with a difference. As the name suggests, it is available to customers who are looking to borrow into their retirement. Our mortgage stands out as it allows you to use downsizing as a way to pay off your loan after you stop working.”

Full product details can be found here.
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
Katie Sharpe: 01799 582923
Gemma Reynolds: 01799 582925

*Older households set to rise: Daily Moneyfacts Bulletin, 21 September 2018 – The number of households in England is expected to rise by 4m (17%) over the next 25 years, according to the ONS, equating to 159,000 more households a year. Those headed by someone over 65 will make up 88% of this growth, with a rise of 54% predicted by 2041, while those headed by someone under 65 will grow just 3%.

Saffron launches new 3.99% low rate self-build mortgage

Latest product offers market leading rate to build dream home*

Saffron Building Society has launched a new lower rate, self-build mortgage of 3.99%. This latest offering gives mortgage intermediaries a strong option to kick start business in 2019 through this market leading rate.

Average savings of 15-20%** are being made by ‘self-builders’ compared to the cost of buying the same property so demand for this new mortgage offering is expected to be high across the UK.

This unique, low rate self-build mortgage includes the following features:

• Every application is manually assessed by a specialist self-build underwriter
• Flexible stage payments; funds are released in stages that can be tailored to each individual project
• Available to first time buyers
• Up to five times income considered on applications, assessed on a case by case basis
• Custom-build developments are also accepted

Rate: 3.99% (SVR -1.65%) to 75% LTV
Arrangement fee: 1%
Early Repayment Charge (ERC): None
Loan: Min loan £30k, Max loan £1m
Term: 24 months
Repayment: Interest only
Purpose: For purchase or remortgaging
Maximum Age: No maximum

Anita Arch, Saffron Building Society’s Head of Mortgage Sales said: “The popularity of self-builds is noticeably growing with more and more support available to turn ideas into reality. Self-build projects don’t need to be construction from scratch. They can be renovations to an existing property, or conversions to a barn, basement, loft or garage. In essence, any large extension could be classified as a self-build construction.

Saffron has years of experience providing finance for people looking to build their own ‘dream homes’ – we believe this new lower rate mortgage opens up possibilities to even more self-builders!”

Full product details can be found here. 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
Katie Sharpe: 01799 582923
Gemma Reynolds: 01799 582925

Sources:
*Money.co.uk
**National Custom and Self Build Association (NaCSBA)

Saffron Announces New Reduced Fixed Rate Mortgages

First Time Buyers given new options to get on the property ladder

Saffron Building Society has launched two new reduced rate mortgages for First Time Buyers: 3.07% 3 year fixed and 3.37% 5 year fixed.

The new fixed rate mortgages offer some of the best rates in the market with all applications being individually assessed by a skilled underwriter giving an efficient and personal service.

With UK property prices drastically rising above wage growth in the last three years the new mortgage options will be of particular interest to First Time Buyers who have a limited deposit or who have received a ‘Gifted Deposit’ from a parent or other family member.

Product summary:

3 Year Fixed Rate – First Time Buyer

Rate: Now 3.07% fixed until 31.07.22 (was 3.27%) to 95% LTV
ERC: 3% for 3 years
Arrangement Fee: None
Loan: Min loan £30k, Max loan £500,000 (Up to £1m within the M25 subject to max 90% LTV and underwriter assessment)
Term: 40 years
Purpose: Purchase
Maximum Age: None Maximum
Gifted Deposits: Accepted

5 Year Fixed Rate – First Time Buyer

Rate: Now 3.37% fixed until 31.07.24 (was 3.47%) to 95% LTV
ERC: 3% for 5 years
Arrangement Fee: None
Loan: Min loan £30k, Max loan £500,000 (Up to £1m within the M25 subject to max 90% LTV and underwriter assessment)
Term: 40 years
Purpose: Purchase
Maximum Age: None Maximum
Gifted Deposits: Accepted

Anita Arch, Saffron Building Society’s Head of Mortgage Sales said: “We believe our new reduced rate mortgage products are just the boost First Time Buyers need. Home ownership in the current generation is much lower than the generation before – we want to help more people to take that initial step and get on to the property ladder. We are delighted to launch our two latest mortgage offerings to do just that”

Saffron launches Smaller Development Loans with expert customer support

Saffron Building Society has launched a new, smaller development finance loan for customers requiring an advance of between £150,000 and £500,000 to build or renovate a property to sell on the open market. The ‘Smaller Development Loan’, adding to Saffron’s established products financing larger projects of £500,000+, is supported by a team of relationship managers offering expert guidance for customers.

This latest offering from Saffron provides residential property loans designed specifically for experienced individuals and housebuilders working on small development projects throughout England and Wales. Saffron will lend primarily for new builds and conversions but will in some circumstances also consider funding projects which are part completed and which require additional funding to complete the project.

Saffron’s Smaller Development Loans can be used for:

Residential only: New build flats and houses
Conversions: (including barns), renovations & extensions
Part completed sites

Lending details:

  • Funding between £150,000 and £500,000
  • Leverage at the lower of 75% of project costs and 65% of GDV (maximum day one advance 65% of purchase price)
  • Interest rates typically start from 1% per month
  • Arrangement fee 2%
  • Exit fees 1%
  • Fixed legal costs typically £1,200 for a single titled property
  • Quantity Surveyor (QS) fees do not apply – Saffron’s internal QS monitors all sites so there are no external monitoring fees
  • Monitoring costs £100 per visit plus out of pocket expenses
  • When lending to limited companies, personal guarantees will be required.

Each customer taking out a development finance loan will be supported by a dedicated relationship manager throughout the build. This unique, customer support team includes newly appointed ‘Solo Baleisolomone’ who brings experience as a qualified quantity surveyor to his role, a particular benefit to those working on their first development project.

Peter Owen, Head of Property Development at Saffron Building Society said: “Our customers like the fact that we take a personal interest in their projects and provide ongoing advice, guidance and support throughout the complete development process. We don’t just lend and walk away, we are dedicated to the project and we visit the site to ensure we support our customers as the project progresses. We offer regular assistance wherever possible to enable them to overcome potential issues, such as unavoidable cost and time overruns.

Many of our customers stay with us and ask for support on subsequent projects – it becomes a partnership. For us, it’s not just about finance. It’s about lending our years of experience to help our customers achieve a successful outcome.”

More information about Saffron Building Society’s Development Finance services can be obtained by contacting: 01799 582886 or email Development.Finance@saffronbs.co.uk

Saffron goes ‘Solo’

Solo Baleisolomone joins Saffron Building Society’s Property Development Team

Solo Baleisolomone, a qualified Quantity Surveyor; former housing development site manager and decorated military engineering veteran has joined Saffron Building Society as a Relationship Manager in their Property Development team.

Solo, brings a wealth of experience to the role and provides a unique insight for customers financing their own development projects.

He will be providing customer support and oversight to those taking out residential property loans for both first time and experienced individuals and housebuilders working on development projects and self builds across England and Wales.

Peter Owen, Head of Property Development at Saffron Building Society said:
“Our customers like the fact that we understand the detail of their business and that we provide ongoing advice, guidance and support throughout the complete development process. Solo’s past experience within engineering and the building trade gives a unique combination of skills which will provide invaluable support to customers during their build. For the Society it provides us with an additional ‘string to our bow’ that will set us apart from most of our competitors. We are now able to view our funded projects from another angle other than that of purely a banking proposition and will also provide the internal resource that will enable us to closely monitor our smaller loans, without the need to engage an independent monitoring surveyor.”

Solo Baleisolomone commented: “Saffron adds a genuine, personal touch to the lending process which I like. My past role as a Quantity Surveyor also helps me understand our customers’ situations at a deeper, professional level. I am already starting to see areas where I can add value, not just for Saffron, but also for the customer.”

More information about Saffron Building Society’s Development Finance services can be obtained by contacting: 01799 582886 or email Development.Finance@saffronbs.co.uk

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