A new tiered loan-to-income (LTI) matrix has been introduced across the lender's standard residential categories and self build products. This builds on Saffron’s Professional Income Boost, which allows borrowing up to 6x income.
Saffron has also expanded its joint borrower sole proprietor (JBSP) proposition, which now covers home movers and remortgages, and added a new premier income product for borrowers earning over £150,000 either via a sole or joint income. This has uncapped LTI and loan sizes up to £5 million to allow more flexibility for high-income clients.
Lastly the lender has launched a new expat product for residential borrowers returning to the UK, where direct family remain in the property.
In addition to the new lending products, Saffron has also introduced a series of broader updates, including a 1% reduction in stress rates and updated affordability calculations in line with recent ONS cost of living data.
Contractors with more than two years’ contracting can now access standard Owner Occupied mortgages and Saffron has also extended its professional income boost to self-employed applicants trading for more than two years, with a wider set of accepted qualifications, and updated its first-time buyer JBSP product, which now accepts two owner borrowers and two supporter borrowers.
Tony Hall, Head of Business Development at Saffron for Intermediaries, commented:
“This is one of our most comprehensive refreshes to date, with our brand new LTI Matrix, Expat Residential, Premier Income, and JBSP categories all designed to reflect the clients brokers are working with today. These updates directly support globally mobile professionals, high earners, and families pooling income across generations.
“Alongside this, we’ve strengthened our existing ranges, extending Professional Income Boost to the self-employed, aligning our Owner Occupied and Contractor propositions, and reducing stress rates to boost affordability. Each step helps brokers open up more opportunities for their clients. At Saffron, we believe progress isn’t about one big change. It’s about refining, adapting, and layering in smarter solutions over time.”
