Legal & General’s AR network will be the sole national supplier of Saffron’s mortgages.
Legal and General will now offer Saffron’s ‘Everyday Situation’ and 'Special Situations' range which caters for, amongst others, self employed homebuyers who are unable to provide the traditional three years trading accounts and contractors who work on a short-term contract basis.
Martyn Smith, head of mortgage products at Legal & General Network, said: “Our members will welcome the refreshing approach to lending taken by Saffron Building Society, with underwriters who have the skills and flexibility to look at good quality and creditworthy customers that don't fit the 'one size fits all' credit scoring systems.
“Considerable thought has gone into designing specific products to cater for customers that struggle to fit lenders standard criteria - like the self-employed and those working on short-term contracts. We look forward to working with the team at Saffron Building Society to bring these new products to market that will help our members and their customers."
Peter Izard, head of mortgages at Saffron Building Society, said: “We’re delighted to be partnering with Legal & General to make our new range of Everyday Situations and Special Situations mortgages available to their brokers.
“Within each range borrowers are able to select optional features such as interest only, second homes and mortgages for expatriates returning to the UK.
“I’m sure L&G brokers will find these products a useful addition to their portfolio.”
