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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

L&G, L&G Mortgage Club and all affiliated firms

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, Mortgage Intelligence, Next Intelligence, Platinum Options, Positive Lending (UK) Ltd; Positive Lending Club, 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.

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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

Saffron introduces improved self-build mortgages

Brokers given wider customer options in increasingly popular specialist sector

Saffron Building Society has made several enhancements to its self-build mortgages in response to feedback from its members and broker contacts. The new products give intermediaries a much more flexible product to offer their customers. There are more options depending on the amount of capital customers have up front.

Quicker application process

Saffron’s years of experience helping self-builders have shown that the application process can be fraught with difficulty. Architectural drawings may need to be tweaked and alterations made with the process often feel exhausting. In the past, Saffron accepted applications only when the full planning approval was in place, which the society has reviewed and amended to make the process quicker.

Saffron now accept mortgage applications with only outline plans, the offer is sent once full planning permission has been secured.

New Options

Saffron has developed an option for self-builders who have less money up front to start their development. This is an alternative to its popular self-build mortgage with new Loan to Value options:

The self-build mortgage range now includes the following options:

Rate: 3.99% (SVR – 1.65%) discount for 24 months
LTV: Will lend up to:
– 65% of the purchase price
– 100% of the build costs
– A maximum of 75% of the gross development value
Arrangement fee: 1%
ERC: None
Repayment: interest only or repayment (if repayment chosen, interest only available during the build period up to a maximum of 24 months)
Loan amount: £30,000 up to £1m

Rate: 4.19% (SVR – 1.45%) discount for 24 months
LTV: Will lend up to:
– 80% of the purchase price
– 80% of the build costs
– A maximum of 80% of the gross development value
Arrangement fee: 1%
ERC: None
Repayment: interest only or repayment (if repayment chosen, interest only available during the build period up to a maximum of 24 months)
Loan amount: £30,000 up to £1m

Saffron’s new self-build product means customers don’t have to have as much deposit to secure the mortgage and don’t need as much money in place to fund the build costs. Brokers can find full product details on Saffron’s Self-Build pages. The Society also allows applicants to borrow more against the gross development value of their new home.

Unrivalled support as you build

There are several features of Saffron’s mortgages that particularly stand out in the market, the Society:

  • Can lend up to £1m on each mortgage, while many lenders firmly limit this to £500,000
  • Can lend up to 100% of the build costs
  • Offer flexible stage payments; funds are released in stages that can be tailored to each individual project

Anita Arch, Saffron’s Head of Mortgage Sales comments: “It’s not just our mortgages that set us apart. Our aim to provide unrivalled support along the way is just as important as providing helpful products. We have a team of specialist underwriters who have detailed knowledge of self-build projects and will apply this to each application which will be manually checked. They will take time to review the details and attempt to do all they can to provide the funds your customers need for their new home.”

Brokers with questions about the new, improved self-build mortgages can speak with one of Saffron’s Business Development Managers, who will be happy to help:

Holly Andrews: 01799 582885
Katie Sharpe: 01799 582923
Gemma Reynolds: 01799 582925

Saffron launches first-time buyer ‘Family Support’ mortgage

Competitive rates & family contributions returned with interest

Saffron Building Society has launched a ‘Family Support’ mortgage giving brokers new options for first-time buyers. The new product gives access to a competitive interest rate which is fixed for five years. A customer must provide a 5% deposit and a family member holds funds in a Saffron Family Support Savings Account, for the first five years of the mortgage. The family contribution also gains interest over the fixed term period before being returned.

At a time when raising a mortgage deposit can be challenging and proving to be a difficult financial juggling act between saving and meeting living costs, many first-time buyers need some support from their families.

Saffron’s ‘Family Support’ mortgage, with a range of innovative features, can help brokers’ customers facing this situation and works as follows:

  • The customer provides 5% of the purchase price by way of a deposit (which can be a gifted deposit)
  • A member of their family holds another 5 % of the purchase price in a Saffron Family Support Savings Account linked to the Mortgage
    • The funds are held in a Saffron Family Support Savings Account for the duration of the five year fixed term of the mortgage
    • The funds cannot be accessed for the five year fixed term of the mortgage
    • At the end of the five year term, the funds are returned with interest paid
  • The customer gets the support they need to buy their home and a competitive interest rate during the term of the mortgage, which has a fixed rate for five years
  • Saffron pays for the customers valuation and there is no arrangement fee on the mortgage – cutting down upfront costs

Product details:

Rate: 2.97% to 95% LTV
Arrangement Fee: None
Early Repayment: 3% for 5 years
Loan: Min loan £30k, Max loan £500,000
Term: Min mortgage term 5 years; Max mortgage term 40 years
Purpose: Purchase

Anita Arch, Saffron Building Society’s Head of Mortgage Sales said: “Our Members told us that they’d like a way of supporting their families financially in the early years of home ownership but, when they found their feet, to have the money they provided returned. These funds might be needed as part of retirement planning for example. A gifted deposit is often seen as an ideal way to assist, but ‘gifted’ money is not repayable which means it is not always the ideal solution.”

Arch added: “In addition, the family member providing the support receives interest on their funds, at the end of the five year term. We see this as a great way for families to help each.

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

Saffron Launches Enhanced Affordability Calculator

Saffron Building Society has launched a revamped affordability calculator designed to assist brokers and their customers when choosing a new residential mortgage. Findings from the enhanced tool can potentially give access to a wider set of loan options than previous and the opportunity to borrow more funds to secure a new home.

The calculator’s upgraded capability creates a more realistic model to accurately estimate a customer’s expenditure by household size giving more flexibility in terms of lending levels offered. These improvements will mean a better result for most customers who are in the market for a new mortgage.

Recent mortgage applications submitted through the ‘Saffron for Intermediaries’ online portal are already illustrating this. In some cases customers have been able to borrow up to 35% more.

Anita Arch, Saffron Building Society’s Head of Mortgage Sales said: “In a world where financial vulnerability is monitored closely, and quite rightly so, it’s never been more important for brokers to help their customers estimate how much they can afford to borrow to buy a home.” Arch added: “Saffron’s new enhanced affordability calculator offers a more sophisticated approach which we’re finding opens up many new lending opportunities whether it be a variable rate, fixed rate, first time buyer or a residential mortgage for the self-employed.”

Full details and the opportunity for brokers to test Saffron’s new affordability calculator can be found at: https://www.saffronforintermediaries.co.uk/calculators/.

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

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)

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