Saffron For Intermediaries is providing interest-only options across its occupational range of loan products.
The occupational range includes loans for the self-employed, contractors and professionals (e.g. accountants, lawyers, doctors and dentists. A full list of acceptable professionals is available at: www.saffronforintermediaries.co.uk). Interest-only mortgages are available up to 70% LTV and are subject to an acceptable repayment strategy being in place.
The dedicated intermediary channel of Saffron Building Society has also made a number of additional criteria changes to its full range of mortgage products. The minimum age of applicants has been reduced to 21 on all products while the maximum loan for first-time buyers living within the M25 has been increased from £500,000 to £1m, up to a maximum of 90% LTV (first-time buyer loans only).
Contractors need only show two years’ experience in the same type of employment, along with evidence of a new or existing contract.
Anita Arch, Saffron For Intermediaries’ head of mortgage sales, said: “We regularly review our criteria to ensure they remain competitive and are delighted to be announcing these enhancements today. They provide intermediaries with further flexibility when advising their clients about Saffron’s products.”
