Here is the latest update from the Saffron Building Society. For details see their latest product information here. Lending criteria details are available here. Remember, you can access these products through our direct to lender mortgage club to get the benefits of payment on completion as well as out specialist mortgage support.
Saffron Announcement
Saffron BS Mortgage Changes 2nd February
On Wednesday (02 February) we will be making some changes to our mortgage range – all changes highlighted in Red below.
New Customers
- Retirement Interest Only (RIO) end date & product code change only
Product Name | Retirement Interest Only Mortgage POA | Retirement Interest Only Mortgage |
Product Category | Retirement | Retirement |
Code | DR0975 | DR0976 |
LTV | 50% | 50% |
Rate | 3.17% | 3.37% |
Rate Type | Fixed | Fixed |
Product Term | 31.07.2025 (3 year) | 31.07.2025 (3 year) |
Revert Rate | SVR | SVR |
Arrangement Fee | £999 | £999 |
Can Arr Fee be added | Yes | Yes |
Application Fee | £180 | £180 |
Incentive | None | None |
Min Loan | £30,000 | £30,000 |
Max Loan | £1,000,000 | £1,000,000 |
ERCs | 3% for 3 Years | 3% for 3 Years |
Overpayments | 20% p.a. penalty free | 20% p.a. penalty free |
Floor | 2% | 2% |
Min Mortgage Term | 5 Years | 5 Years |
Max Mortgage Term | Open ended | Open ended |
Repayment | Interest only | Interest only |
Purpose | Purchase or remortgage | Purchase or remortgage |
Portable | Yes | Yes |
Channel | Intermediary only | Intermediary only |
Exclusive | No | No |
APRC | 5.1% | 5.2% |
Replacing | DRO899 | DRO900 |