Saffron for Intermediaries has announced a wide-ranging refresh of its mortgage offering, with significant enhancements across professional mortgages, development finance and mainstream lending criteria, alongside a series of rate reductions.

The lender said the changes were part of its commitment to “embracing different”, a broker-led approach to product development.

Among the headline updates is an increase to the loan-to-income cap for eligible professionals, which now rises to 6.0x on loans up to 80% LTV. The previous threshold of 5.5x remains in place for loans up to 90% LTV. In a move that opens the door to a wider pool of mid-career applicants, the eligibility window following initial qualification has been extended from five to ten years. Accepted professions now explicitly include mortgage brokers and strategy consultants, with existing categories such as investment bankers and management consultants retained.

All applicants under the Professional Income Boost proposition will now be assessed using standard evidence of qualification, such as degree certificates or formal training documentation. Saffron remains one of the few lenders in the market offering enhanced LTI ratios to this breadth of professions.

DEV FINANCE PUSH

In a major revamp of its development finance proposition, Saffron has increased the maximum loan size from £3 million to £5 million, raised the loan-to-cost ceiling from 80% to 90%, and lifted the maximum loan-to-GDV from 65% to 70%. Product terms have also been extended up to 36 months, offering greater flexibility for larger or more complex build schedules.

A new pricing matrix, now integrated within Saffron’s broker portal, aims to deliver more transparent and consistent pricing, with scope for adjustments based on the individual merits of each case. The lender said it wants to deepen its partnerships in the development sector, building on its existing presence with a more accessible and broker-friendly proposition.

Tony Hall, head of business development at Saffron for Intermediaries, said: “The biggest change in this update is to our Development Finance proposition. With rising building costs, we’ve made it easier for developers to access the funding they need, including increasing the loan to cost to 90% and the maximum loan size to £5 million.”

Further changes have been made across residential and buy-to-let lending. Foster income is now accepted for applicants with at least 12 months’ experience, with affordability calculated on the last three months of receipts. Joint visa applicants will be able to qualify with a combined income of £100,000, rather than meeting a £75,000 threshold individually.

Documentation requirements have also been streamlined. P60s are no longer required for standard employed income cases, and self-employed borrowers can now submit SA302s or tax year overviews alone where borrowing up to 80% LTV, provided affordability is assessed on salary and dividends. Where affordability is calculated based on net profit, audited accounts under 18 months old will still be required. Portfolio landlords now need only provide a portfolio breakdown at application, with full business plans no longer standard.

Saffron has also introduced rate cuts of up to 0.30% across several categories. For five-year fixed rates at 80% LTV, pricing now begins at 4.57% for owner-occupiers, 4.87% for contractors and 5.07% for the self-employed.

Hall added: “We’ve started the year strongly with a record quarter for completions and our mortgage book is at an all-time high. We believe great lending isn’t about one big change – it’s built brick by brick. Combined with our revamped Development Finance offering, it puts us in a great position to keep growing with brokers and help even more clients access lending. And this isn’t the end – we have more changes planned for later in the year.”