The Society says the changes it has made have been minimal and brokers will be able to use the same straightforward submission process and enjoy the same personal service with which they have become familiar.
The key changes being implemented by Saffron Building Society include a new affordability calculator and a new single mortgage application form – which can be used for all mortgage application types. Brokers used to Saffron’s prudent approach to assessing affordability will see only minor changes in terms of additional documentation requirements.
Sarah Howe, Chief Marketing Officer at Saffron Building Society, said:
“I can confirm that Saffron Building Society is ready for MMR and we will be ‘going live’ with effect from 24th April.
“We have capitalised on the opportunity to simplify our application process by introducing a new single application form which will cover all mortgage types and we have developed a new easy to use online affordability calculator, which will show brokers and their clients how much we’re willing to lend. Brokers will find our submission procedures reassuringly familiar.”
The Society will continue to use skilled underwriters to assess each mortgage application on its own merits and its Special Situations and Everyday Situations range of products will also continue to be marketed via a panel of distributors which includes 3mc, AToM, Brightstar, Complete FS, L&G Network, Platinum Options and tbmc.
