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

Transitional Mortgage – a helping hand before a window of opportunity closes

When the new MMR rules were introduced last year, the FCA recognised that tougher affordability rules would condemn some borrowers to becoming ‘mortgage prisoners’ by preventing them from remortgaging onto better deals with other lenders.

In order to alleviate this problem, the FCA introduced a set of ‘transitional rules’ allowing lenders to make exceptions to the responsible lending rules, providing there was no increase in the borrower’s outstanding mortgage balance.

A common sense response to a very real problem.

Unfortunately, the new European Mortgage Credit Directive (MCD) which comes into effect in March next year and which is aimed at harmonising regulation across European countries, will bring an end to the transitional rules.

Why? Because the MCD will force lenders to use affordability checks on all remortgage applications – with no exceptions. This means that the window of opportunity for affected borrowers to remortgage under the transitional rules will finally close next March.

This is potentially devastating news for an estimated 770,000 ‘mortgage prisoners’, especially those who have standard variable rate mortgages and are therefore vulnerable to future rate increases, which many experts are predicting may start to happen next spring. If their predictions come true, the timing couldn’t be worse.

The only silver lining to this dark cloud is that lenders such as Saffron have mortgage deals designed specifically for these borrowers. Our Transitional Mortgage, for example, has the following features:

• Rate: 3.99% 5-year discount (the rate then reverts to Saffron’s standard SVR, which is currently 5.39%)
• Max LTV: 75%
• Early Repayment Charge: None
• Arrangement Fee: £995 which can be added to the loan
• Loan size: Min £30K, Max £500K
• Fully portable: Yes
• Transferability: After 3 years, borrowers with a clean payment history can switch to one of Saffron’s current retention deals
• Suitability: Existing mortgage must have been held for 3 years with no additional borrowing or second charges during this period

With a competitive 5-year discount and no early repayment charges, this product provides a great opportunity for borrowers to throw off the shackles of their existing mortgage before it becomes too late to do so.

This is one of those situations where borrowers may not even realise they have a problem, until it’s too late to do anything about it. It therefore makes a lot of sense for brokers to contact potentially affected clients and make them aware of their options.

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Best Service from a Mortgage Provider - Moneyfacts Awards 2014