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Saffron introduces interest-only payments on occupational mortgage range

  • 21/06/2016
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Saffron introduces interest-only payments on occupational mortgage range
Saffron for Intermediaries has introduced the option to repay on an interest-only basis for customers borrowing from its occupational range and also updated mortgage lending criteria.

The intermediary arm of Saffron Building Society offers loans for the self-employed, contractors and professionals – such as accountants, lawyers and doctors – in its occupational product range which is available up to 70% LTV (loan to value).

Other criteria changes include reducing the minimum age of applicants to 21 and higher loan amount caps for first-time buyers living within the M25 from £500,000 to £1m, up to a maximum of 90% LTV.

Saffron head of sales Anita Arch said criteria is regularly reviewed to ensure the lender remains competitive and to provide intermediaries with flexibility for their clients.

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