Saffron for Intermediaries has raised the maximum loan size on its self-build large loan and residential large loan products.
Firstly, Saffron has lifted the maximum loan size to £4m (up from £3m) on its self-build large loan products.
Additionally, Saffron has announced it has launched a new product category – residential large loan – which it will source up to £5m (up from £3m), at up to 80% LTV.
Borrowers looking to take advantage of the extended maximum loan sizes can benefit from rates starting at 5.67%. The following rates apply:
Meanwhile, the maximum loan on Saffron’s self-build large loan products has increased to £4m, available at the following rates:
Saffron has also reduced rates across its range, including on residential, self-employed, contractor and BTL products.
Residential products have seen reductions of up to 0.7%, with five-year fixed rates at 80% LTV starting at 5.77%. The full list of new rates can be found below:
Elsewhere, Saffron has increased the LTV on products in its retirement interest only mortgage range and introduced a new LTV band of 90% on its first-time buyer range. The enhanced LTV on their retirement interest only mortgages is now 60%.
The following rates apply:
Saffron head of business development Tony Hall comments: “We know that placing larger loans can often be a challenge, and so are delighted to increase our maximum loan sizes today. This aligns with the enhancements to our self-employed product range announced in September, helping to ensure that we provide a well-rounded offering in the complex lending space”.
