Snowdon will be executive partner of mortgage strategy at the mutual and will be responsible for specialist product development, distribution and service.
Snowdon said: “The mortgage market is dominated by the big six lenders which account for around 90% of all lending.
“But there are many good borrowers who don’t fit the vanilla credit profile those lenders are looking for and who would benefit from having their case looked at by trained underwriters.”
Snowdon launched Aldermore’s residential mortgage offering in 2010 before leaving in 2011.
He previously headed up Merrill Lynch’s subsidiary Wave Mortgages until 2008 when it ceased lending.
Saffron chief executive Jon Hall said: “We are pleased to have appointed Colin Snowdon, a recognised industry expert and someone I have known and respected for a number of years.
“We understand the increasing importance of innovation in the mortgage market and the need to continue to build on our specialist, bespoke approach to mortgages. It is great to have such an experienced individual on the team.”
Saffron reported a 97% increase in gross lending for the six months to June 2012 compared to the previous year.
