Your guide to Saffron for intermediaries

Explore Saffron for intermediaries’ flexible lending solutions and tailored services designed for mortgage brokers seeking to grow their client base

By Kath Villamayor

27 Jan 2025

Contents

Introduction to Saffron for intermediaries
How does Saffron for intermediaries support their partners?
Saffron for intermediaries’ mortgage products
Why should intermediaries work with Saffron?

For mortgage brokers, it is vital to form a good relationship with credible financial institutions that provide home loans for their clients. These intermediaries can gain perks and rewards when they work with mortgage lenders that are broker-centric. This can translate to having an exclusive platform for intermediaries.

If you aspire to become a mortgage broker, be sure to collaborate with property loan providers that are legally authorised by the government. Partnering with mortgage lenders that have years of experience in the industry can also be an advantage. Some of these lenders can be commercial banks, credit unions, and building societies like Saffron Building Society.

In this article, Mortgage Introducer will explore everything you need to know about Saffron for intermediaries. We will discuss their background and how they can help intermediaries in the UK. We will also talk about their mortgage products and see how they stand out from other home loan providers.

Curious to know if your clients are eligible for Saffron’s wide range of mortgage services? Keep reading to find out.

Introduction to Saffron for intermediaries

Saffron for intermediaries is the intermediary-only platform of the Saffron Building Society. This mortgage provider was created in 1849. It is based in Saffron Walden, Essex. It was named Saffron Walden Second Building Society back when it was established.

The Saffron Building Society is a regional building society and covers a large territory in the UK. It boasts numerous branches and agencies in the East of England, particularly in:

Essex
Hertfordshire
Suffolk

Saffron Building Society is a member of the Building Societies Association. They are authorised by the Prudential Regulation Authority (PRA). Saffron is regulated by the Financial Conduct Authority (FCA) as well as the PRA. The exception to this is their Commercial and Investment Buy to Let mortgages.

So why should you consider working with Saffron for intermediaries? Find the answers when you watch this video:

Would you like to make a name for yourself in the mortgage industry? Try doing these two things: work with a competent mortgage lender like Saffron and always look for ways to improve your craft. Use intermediary guides like this one and read our report on the best mortgage brokers for 2024.

How does Saffron for intermediaries support their partners?

Saffron for intermediaries has a dedicated online platform for mortgage brokers and financial advisors. This provides easy access to Saffron’s tools, guides, and lending criteria. The platform also allows users to compare the benefits and features of Saffron’s mortgage products.

Intermediaries can find most, if not all, the information that they need should they decide to partner with Saffron. Some of their tools include:

lending criteria page
important documents for downloadable forms
BDM finder via Contact us
affordability calculators

Affordability Calculators

Find out how much your client could borrow.

Affordability calculator
Professional Income Boost calculator
JBSP calculator
BTL Rental calculator
Mortgage Repayment calculator

Let’s briefly discuss each one:

1. Affordability calculator

This works like the usual affordability calculators made available by mortgage lenders in the UK. It is used to calculate the amount that can be loaned to your clients.

2. Professional Income Boost calculator

Saffron’s Professional Income Boost calculator is best to calculate how much clients can borrow if they are in the early stages of certain occupations.

3. JBSP Calculator

Do you have clients who will act as the owner-occupier in a property loan deal? What about the other borrowers? See how much they can get with Saffron’s joint borrower sole proprietor (JBSP) calculator.

4. BTL Rental Calculator

Buy to Let mortgages require that your client’s property and its rental income shoulder the mortgage repayments. Saffron’s BTL Rental calculator will help you determine how much your client could borrow.

5. Mortgage Repayment Calculator

This calculator will help you estimate your client's monthly payments for a specific loan amount, mortgage product, and mortgage type.

There are other effective tools for Saffron’s intermediary-partners which you can use with ease via their website. If you decide to work with Saffron for intermediaries, you’ll be in good company. Some of the top intermediaries in the UK work with them, too.

Saffron for intermediaries’ mortgage products

Like other mortgage providers, Saffron offers Buy to Let mortgages and Residential mortgages. However, what sets them apart is their dedication to help clients with “special” situations.

Special mortgage products for special situations

Saffron for intermediaries’ special mortgage products are for clients who typically get rejected by other lending companies. This is mainly due to their complex and unique circumstances.

Take a look at Saffron’s special mortgage products:

Contractor mortgage
Professional Income Boost mortgage
Retirement Interest Only (RIO) mortgage
Self-Build and Custom Build mortgage
Self-Employed mortgage

To better understand these home loan services, we will provide their features and requirements below:

1. Contractor mortgage

Saffron for intermediaries knows that contractors can experience some difficulties when applying for home loans. As such, they have a specific mortgage option for them. Contractors who are first time property buyers can apply for this product line.

For day rate contractors, Saffron requires your clients to be at least 21 years old. They should also have two years’ employment history and a minimum of three months’ contract history. Your clients’ income will be calculated as follows:

Daily Rate x 5 x 48

The minimum loan term for Saffron’s Contractor mortgage line is five years. This is also available on interest only or repayment options. Saffron for intermediaries also has mortgage offerings for:

Zero Hour Contractors
Construction Industry Scheme (CIS) Contractors

2. Professional Income Boost mortgage

This mortgage option is mainly for clients who have careers that are included on Saffron’s specific list. Make sure that your client is at least 21 years old before applying for this property loan. They can also borrow up to 5.5 times of their income.

As for the income requirement, Saffron for intermediaries sets the minimum at £30,000. Your clients can also submit joint applications, provided that at least one applicant is qualified based on Saffron’s eligibility criteria.

Your client must be employed permanently and work full-time. They should also be practising one of the following professions within the last five years:

vet
actuary
dentist
architect
solicitor
barrister
pharmacist
accountant
medical doctor
commercial pilot
chartered surveyor
electrical engineer

Here are the documents needed if your clients want to apply for Saffron’s Professional Income Boost mortgages:

Registration of UK professional body
Certificate of degree or full qualification (including date)
Employer confirmation or copy of employment contract

All applications for Professional Income Boost mortgages will undergo the Decision in Principle (DIP) stage. This will let Saffron for intermediaries’ underwriters to make the necessary review on eligibility and affordability.

3. Retirement Interest Only (RIO) mortgage

Saffron for intermediaries can also cater to retired borrowers on an interest only basis through their Retirement Interest Only (RIO) mortgages. This option is beneficial for your clients, especially in the long run when they will look for flexibility in payments.

Only one or two applicants can apply for this mortgage type. The proceeds taken from the sale of your clients’ property on a set life event will be used to pay the mortgage. This can be due to the death of the borrower or if they decide to move into long-term residential care.

Your clients must also be at least 55 years old before they can apply for Saffron’s RIO mortgage.

The minimum loan term is five years and there is no maximum. As for the loan amount, the minimum is £30,000 while the maximum is £3 million.

4. Self-Build and Custom Build mortgage

Saffron’s Self-Build Large Loan mortgage range is for clients who want to build the house from the ground up. This is for self-builders who want to borrow up to £4 million to fund the construction of their homes.

Any amount that exceeds this will be examined on a case-by-case basis and customised by Saffron for intermediaries.

Want to learn more about Saffron’s Self-Build mortgages and its target market? Watch this clip:

In 2024, Saffron for intermediaries updated some of its mortgage products and reduced interest rates to support large loan borrowers.

Custom Build mortgage

As for Custom Build mortgages, your clients must be at least 21 years old before they can apply. Their purpose for borrowing should be to own and occupy the property.

If your clients decide to apply for a Custom Build home loan, you must submit their outline planning permission at the DIP stage on their behalf. As for the full planning permission, it is required before going to the valuation stage.

You must also submit the full breakdown of your clients’ project along with the expenses and architectural drawings.

Saffron for intermediaries’ Custom Build mortgage is available to first-time home buyers.

5. Self-Employed mortgage

Lastly, Saffron’s Self-Employed offerings are for clients who have their own business or are working on a self-employed basis. This is also available for applicants with only one year’s accounts.

Eligibility criteria:

your client must be at least 21 years old
the minimum loan term is 5 years while the maximum is 40 years
the minimum property value is £100,000
the minimum loan size is £100,000 while the maximum is £3 million for up to 80% LTV ratio
for £1 million loan size, the maximum LTV ratio is up to 90%
available for interest only or repayment option
for interest only option, the maximum LTV ratio is 70% and is subject to an acceptable repayment strategy

Why should intermediaries work with Saffron?

Intermediaries should try working with Saffron. They're a reliable mortgage lender with a dedicated website for their partner-brokers. They can supply every tool that you will need to provide high quality service for your clients. Saffron also offers helpful guides to assist you when submitting your clients’ mortgage applications.

As a well-established name in the mortgage industry, Saffron for intermediaries has been a trustworthy choice for mortgage brokers for decades. Working with them not only helps secure the right mortgage products for your clients, but it can also enhance your career as an intermediary.

By partnering with Saffron for intermediaries, you can expect excellent service, competitive rates, and support. This can overall benefit your clients’ homeownership goals and your professional growth.

Do you think that Saffron might not be the right mortgage provider for your clients’ needs? Don’t worry, we still have more profiles of lenders with intermediary-only platforms. You can take a glance at some of them:

Do you agree that Saffron for intermediaries would be a good lender to work with? Let us know in the comments section below.

Your guide to Saffron for intermediaries

Introduction to Saffron for intermediaries