Saffron for Intermediaries has broadened its specialist mortgage criteria with new expat HMO products and changes aimed at borrowers starting a new job.

The lender has added Expat HMO products to its buy-to-let range, including options for large HMOs, extending the choices available to brokers placing cases for landlords based overseas.

It has also changed its requirements for expat borrowers by removing the need to appoint a UK solicitor. Applicants can instead nominate a UK resident, a move Saffron said was introduced following broker feedback and is intended to reduce costs and administration.

The revised requirement applies to both Saffron’s Expat Buy-to-Let and Expat Residential ranges.

NEW SALARIES ACCEPTED FOR AFFORDABILITY

Saffron has also amended its residential lending criteria for borrowers who are due to start a new job.

Pending salaries can now be taken into account when assessing affordability where the borrower has a signed employment contract and is due to begin the role before mortgage completion.

The change does not apply to retirement interest-only mortgages.

Tony Hall, head of business development at Saffron for Intermediaries, said: “We know that specialist cases don’t always fit neatly within traditional lending criteria, and brokers need lenders that can respond to the different circumstances they’re seeing.

“These latest enhancements reflect that, expanding the options available across our buy-to-let proposition while removing some of the practical barriers that can make complex Residential cases harder to place.

“For brokers, the aim is simple: to give them more options when supporting specialist landlords and borrowers, whether that’s an expat client or someone moving into a new role.

“By continuing to listen to broker feedback and refine our proposition around real cases, we can help brokers find a way forward for more of the clients they’re supporting.”