Saffron Building Society said that it had added a tiered loan to income (LTI) matrix in its standard residential categories and self-build.
LTIs of up to 5.5x income are available and could mean that clients can borrow up to £39,000 more where the loan to value (LTV) is 85% to 90%, and up to £76,000 more where the LTV is below 85%. This is subject to individual circumstances and affordability.
Further, the firm has expanded its joint borrower sole proprietor (JBSP) proposition, covering home movers and remortgages. This will give borrowers more flexibility, including second steppers, older borrowers and divorced parents.
Saffron Building Society has also added a premier income deal for borrowers earning over £150,000, either sole or joint income. The deal has an uncapped LTI ratio and loan sizes up to £5m.
It has also launched an expat residential deal, which is available to borrowers returning to the UK where direct family members remain in the property. This addresses a “growing need for globally mobile professionals” who can face barriers in mainstream lending, the mutual said.
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Regarding criteria enhancements, the lender has lowered its stress rate by 1% which could mean customers could unlock up to £25,000 in additional borrowing potential.
Affordability calculations have also been updated in line with the latest cost of living data, which should give a more accurate picture of household budgets to brokers.
On the owner-occupied side, eligibility has been “aligned” with contractor and self-employed deals.
The change means that contractors with over two years’ contracting can access standard owner-occupied mortgages.
Tony Hall (pictured), head of business development at Saffron for Intermediaries, said: “This is one of our most comprehensive refreshes to date, with our brand new LTI Matrix, Expat Residential, Premier Income, and JBSP categories all designed to reflect the clients brokers are working with today. These updates directly support globally mobile professionals, high earners, and families pooling income across generations.
“Alongside this, we’ve strengthened our existing ranges, extending Professional Income Boost to the self-employed, aligning our Owner Occupied and Contractor propositions, and reducing stress rates to boost affordability. Each step helps brokers open up more opportunities for their clients. At Saffron, we believe progress isn’t about one big change. It’s about refining, adapting, and layering in smarter solutions over time.”