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
Mortgages products for launch on 24 February 2020
We will be launching the following Mortgage products on Wednesday 24th February 2020
Product Name | Owner Occupied | Owner Occupied | Retro Fit |
Product Category | Residential | Residential | Green Residential |
Code | DR0830 | DR0831 | DR0832 |
LTV | 80% | 80% | 80% |
Rate | 2.67% | 3.07% | 2.67% |
Rate Type | Fixed | Fixed | Fixed |
Product Term | 31.07.2023 | 31.07.2026 | 31.07.2023 |
Revert Rate | SVR-1% | SVR-1% | SVR-1% |
Arrangement Fee | £999 | £999 | £999 |
Can Arr Fee be added | Yes | Yes | Yes |
Application Fee | £180 | £180 | £180 |
Incentive | Free Valuation | Free Valuation | Free Valuation |
Min Loan | £30,000 | £30,000 | £30,000 |
Max Loan | £1,000,000 | £1,000,000 | £1,000,000 |
ERCs | 2% for 2 Years | 3% for 5 Years | 2% for 2 Years |
Overpayments | 10% per annum penalty free | 10% per annum penalty free | 10% per annum penalty free |
Floor | 2% | 2% | 2% |
Min Mortgage Term | 5 Years | 5 Years | 5 Years |
Max Mortgage Term | 40 Years | 40 Years | 40 Years |
Repayment | Repayment or Interest only | Repayment or Interest only | Repayment or Interest only |
Purpose | Purchase or remortgage | Purchase or remortgage | Purchase or remortgage |
Portable | Yes | Yes | Yes |
Channel | Intermediary | Intermediary | Intermediary |
Product Name | Self Employed | Contactor |
Product Category | Self Employed | Contractor |
Code | DR0834 | DR0835 |
LTV | 80% | 80% |
Rate | 3.07% | 2.87% |
Rate Type | Fixed | Fixed |
Product Term | 31.08.2023 | 31.08.2023 |
Revert Rate | SVR-1% | SVR-1% |
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 | 2% for 2 Years | 2% for 2 Years |
Overpayments | 10% per annum penalty free | 10% per annum penalty free |
Floor | 2% | 2% |
Min Mortgage Term | 5 Years | 5 Years |
Max Mortgage Term | 40 Years | 40 Years |
Repayment | Repayment or interest only | Repayment or interest only |
Purpose | Purchase or remortgage | Purchase or remortgage |
Portable | Yes | Yes |
Channel | Intermediary | Intermediary |
Product Name | RIO Mortgage POA | RIO Mortgage |
Product Category | Retirement | Retirement |
Code | DR0836 | DR0837 |
LTV | 50% | 50% |
Rate | 3.17% | 3.37% |
Rate Type | Fixed | Fixed |
Product Term | 31.08.2024 | 31.08.2024 |
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% per annum without penalty | 20% per annum without penalty |
Floor | 2% | 2% |
Min Mortgage Term | 5 Years | 5 Years |
Max Mortgage Term | Open ended Build to 99 years | Open ended Build to 99 years |
Repayment | Interest only | Interest only |
Purpose | Purchase and remortgage | Purchase and remortgage |
Portable | Yes | Yes |
Channel | Intermediary | Intermediary |
Product Name | JBSP |
Product Category | Joint Borrower Sole Proprietor (FTB) |
Code | DR0838 |
LTV | 95% |
Rate | 4.17% |
Rate Type | Fixed |
Product Term | 31.08.2026 |
Revert Rate | SVR-1% |
Arrangement Fee | None |
Can Arr Fee be added | N/A |
Application Fee | £180 |
Incentive | Free Valuation |
Min Loan | £30,000 |
Max Loan | £500,000 |
ERCs | 3% for 5 Years |
Overpayments | 10% per annum penalty free |
Floor | 2% |
Min Mortgage Term | 5 Years |
Max Mortgage Term | 40 Years |
Repayment | Repayment Build IO as well |
Purpose | Purchase |
Portable | Yes |
Channel | Intermediary |
Product Name | Expat BTL | Expat BTL |
Product Category | Expat BTL | Expat BTL |
Code | DR0843 | DR0844 |
LTV | 75% | 75% |
Rate | 4.07% | 3.77% |
Rate Type | Fixed | Fixed |
Product Term | 30.09.2026 (5 Year) | 30.09.2023 (2 Year) |
Revert Rate | SVR | SVR |
Arrangement Fee | 1.50% | 1.50% |
Can Arr Fee be added | Yes | Yes |
Application Fee | £200 | £200 |
Incentive | None | None |
Min Loan | £30,000 | £30,000 |
Max Loan | £1,000,000 | £1,000,000 |
ERCs | 3% for 5 Years | 2% for 2 Years |
Overpayments | 10% per annum penalty free | 10% per annum penalty free |
Floor | 2% | 2% |
Min Mortgage Term | 5 Years | 5 Years |
Max Mortgage Term | 40 Years | 40 Years |
Repayment | Repayment or interest only | Repayment or interest only |
Purpose | Purchase or remortgage | Purchase or remortgage |
Portable | Yes | Yes |
Channel | Intermediary | Intermediary |
Products to be withdrawn
DR0804 | JBSP 4.17% fixed until 31.3.2026 | 95% LTV |
DR0805 | Owner Occupied 2.67% fixed until 31.3.2023 | 80% LTV |
DR0806 | Owner Occupied 3.07% fixed until 31.3.2026 | 80% LTV |
DR0808 | Retro Fit 2.67% fixed until 31.3.2023 | 80% LTV |
DR0814 | Self Employed 3.07% fixed until 30.4.2023 | 80% LTV |
DR0815 | Contractor 2.87% fixed until 30.4.2023 | 80% LTV |
DR0817 | RIO POA 3.17% fixed until 31.3.2024 | 50% LTV |
DR0818 | RIO 3.37% fixed until 31.3.2024 | 50% LTV |
DR0816 | Expat BTL 4.27% fixed until 30.4.2026 | 75% LTV |
Please update your records accordingly.