Saffron for Intermediaries has widened criteria across its buy-to-let, self-build and residential mortgage ranges as it looks to give brokers more scope on cases that fall outside mainstream lending models.
The changes include a broader buy-to-let offering, additional accepted warranty options for self-build cases, and more flexibility on part-and-part and interest-only borrowing in the residential range.
Within buy-to-let, the lender will now accept new-build flats up to a maximum 75% LTV on an interest-only basis across all products. It has also introduced a new 55% LTV tier across the range, including for limited company borrowers.
On self-build, Saffron has expanded the list of accepted certifications. These now include STA Gold Standard, where it is backed by a listed new-build warranty, and Professional Consultant Certificates for ground-up developments, subject to criteria.
In its residential range, Saffron has increased the maximum interest-only element for part-and-part mortgages from 60% to 70%, within an overall maximum of 80% LTV.
The lender said the move is intended to support affordability and simplify loan structuring for borrowers using a mix of repayment methods.
Saffron has also confirmed that the sale of a mortgaged property will now be accepted as a repayment vehicle across all of its interest-only products. That change extends the option across the full range, including two-year and five-year products, different fee structures and deals with free valuations.
Tony Hall, head of business development at Saffron for Intermediaries, said: “These enhancements reflect our ongoing focus on building criteria that works in the real world. Brokers are increasingly dealing with complex cases that don’t fit neatly into standard lending models, and our role is to give them the flexibility to make those cases happen here.”
“Whether it’s increasing interest-only flexibility, widening access for buy-to-let investors, or strengthening our self-build proposition, each change has been designed to remove friction and open up more opportunities for brokers and their clients.”
