With immediate effect, brokers will now have a clearer understanding of how they will be remunerated on all residential and buy-to-let (BTL) products.
Previous fee caps were up to £10,000 for residential and buy-to-lets and £20,000 for self-builds.
The change was announced after the lender increased maximum loan sizes last month offering a change of £3m up to 80 per cent loan to value (LTV) and £1m up to 90 per cent LTV across residential and BTL products.
Tony Hall (pictured), head of business development at Saffron Building Society, said: “We’ve committed that this will be a longstanding offering for our residential, BTL and self-build products, so brokers can be reassured that we’re a long-term partner for their larger loan cases.
“Since launching our larger loan sizes, we’ve been delighted with the positive feedback from our broker partners about this big step forward for the Saffron range. We’re always looking for ways to improve our proposition, which is why we’re now removing proc fee caps from our entire range to simplify our approach and better support brokers who deal with larger loan sizes.”
Only two days ago, Saffron relaunched its first-time buyer two-year fixes and made rate cuts.
