Saffron launches interest-only occupational range

Saffron For Intermediaries is offering borrowers the option to repay their mortgages on an interest-only basis across its occupational range.

Related topics:  Mortgages
Rozi Jones
21st June 2016
house and savings
"We regularly review our criteria to ensure they remain competitive and are delighted to be announcing these enhancements today."

The occupational range includes loans for self-employed, contractors and professionals, and interest-only mortgages are available up to 70% LTV.

Saffron has also made a number of additional criteria changes to its full range of mortgage products.

The minimum age of applicants has been reduced to 21 on all products, while the maximum loan for first-time buyers living within the M25 has been increased from £500K to £1m, up to a maximum of 90% LTV.

Additionally, contractors now need only 2 years’ experience in the same type of employment, along with evidence of a new or existing contract.

Anita Arch, Head of Mortgage Sales, said: “We regularly review our criteria to ensure they remain competitive and are delighted to be announcing these enhancements today. They provide intermediaries with further flexibility when advising their clients about Saffron’s products.”

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