Saffron Building Society has increased the maximum loan size for residential, buy-to-let and self-build loans to up to £3m in certain instances.
For all residential and buy-to-let loans, including self-employed, up to 80 per cent loan to value (LTV) the maximum loan size is set at £3m, up from around £1m previously.
Up to 90 per cent LTV the maximum loan size has doubled from £500,000 to £1m.
For self-build loans the maximum loan size has increased form £2m to £3m. The lender said that this reflected “increased demand”.
The lender said this would be its “standard proposition moving forward” and the change would be “permanent”.
Tony Hall (pictured), head of business development at Saffron Building Society, said: “Increasing our lending capabilities across our product portfolio shows our commitment and drive to lead within the specialist lending arena.
“We work closely with brokers, and we listen. Feedback received over recent months has shown a real appetite for larger loans, especially within the self-build and self-employed markets, so we have delivered.”
Saffron Building Society completed its return to the mortgage market in January, after having to pause new mortgage application excepting self-build in August to protect its service levels.
The lender has returned to market with a full range of products along with some rate cuts across its buy-to-let, first-time buyer, joint borrower sole proprietor (JBSP), owner-occupier and green residential products.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
