Saffron Building Society has announced the launch of a dedicated intermediary lending channel, as well as the launch of a new range of mortgage products designed to help creditworthy borrowers facing special situations.
‘Saffron For Intermediaries’ is the new name being given to Saffron Building Society’s specialist intermediary lending channel, which is expected to account for approximately 90% of the Society’s new lending activity during 2013.
Saffron For Intermediaries is also launching a ‘Special Situations’ product range which includes mortgages for the self-employed, buy-to-let investors including those who want to refurbish before letting their properties, self builders, borrowers wishing to repair an adverse credit record, contractors and professionals. Borrowers can select optional features on some products, such as interest only, second homes and contract gaps and a bespoke mortgage service is also available for borrowers whose needs fall outside standard criteria.
Saffron Building Society CEO Jon Hall said:
“We don’t want to simply pay lip service to brokers; we want to show them we mean business. Saffron For Intermediaries isn’t just a new brand, it also represents a new way of dealing with broker introduced business. Today, we’re delighted to announce our new product range and, in the near future, we will also launch a dedicated brokers website.”
Saffron For Intermediaries also has an Everyday Situations range, which caters for borrowers seeking more straightforward and competitively priced discounted, buy-to-let and first time buyer mortgages.
Both ranges are being marketed via a panel of distributors which includes 3mc, AToM, Brightstar, Complete FS, Platinum Options and TBMC. Brokers requiring further information about the new product range should, in the first instance, contact any of these distributors.
Head of Mortgages, Peter Izard, added:
“Our Special Situations range is designed to help borrowers who find themselves in situations requiring more specialist mortgage solutions.
“For example, borrowers may be self-employed contractors, or people building their own home, or individuals with a tarnished credit record wanting to get their finances back on-track. Whatever their situation, we’ll take into consideration borrowers individual circumstances, apply common sense and provide a personal and reliable service.”