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 – 25 May
Please see information below regarding the mortgage changes due to take effect on Wednesday 25 May:
Summary
Product Category | Changes |
First Time Buyer | End date extensions |
Rate changes | |
Owner Occupied | End date extensions |
Rate Changes | |
Retirement Interest Only | Increasing the term to 5 years |
Removal of application fees |
Product details
For ease, I have highlighted in red the details which are new/different to the current version.
First Time Buyer
No change to criteria
Owner Occupied
No change to criteria
Retirement Interest Only
Brokers are being notified of the withdrawals and have until 5pm on Tuesday (24 May) to submit an FMA with fees paid to secure an existing product.
Saffron BS – Mortgage Criteria Change
Please see below a change of criteria due to take effect on Weds 25 May
Expat BTL
New Policy | Not available to applicants living in The Netherlands |
Previous Policy | Not available to applicants living in an EEA country
Restricted countries: Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden. |
This criteria change is across our Expat BTL range