The mutual has introduced limited company buy-to-let (BTL) for expats up to 80% loan to value (LTV) and is open to first-time buyers and first-time landlords, where at least one applicant meets minimum income requirements.
Saffron Building Society has also updated its wider limited company BTL offering to accept newly registered companies with no personal guarantees required up to 55% LTV.
Further, Saffron Building Society will accept first-time buyers and first-time landlords to its BTL range and offer loan sizes up to £3m.
It has added a house in multiple occupation (HMO) product to its BTL range, for individual landlords and limited companies.
Additionally, the mutual will now offer a full end-to-end property development finance solution to support projects through to completion and sale.
Aldermore Insights with Jon Cooper: Edition 4 – Budget 2025: Landlords feel the heat, brokers to steer the market
Sponsored by Aldermore
There is a pre-development bridge, which will allow developers to secure land, and this can be accepted without planning. It is available up to 65% LTV with planning approval and 50% LTV with pre-approval on terms of up to 18 months.
It also offers a development finance product up to 90% loan to cost (LTC) and 70% gross development value (GDV), with both land purchase and construction costs accepted.
To provide an end-to-end solution, Saffron Building Society has launched an exit bridge up to 75% LTV on terms of up to 18 months.
The mutual said this would enable developers to refinance completed or near-completed projects while awaiting sale and offer a connected funding solution with a single lender.
Lastly, the mutual has updated its residential criteria to accept annexes with separate utilities to support multi-generational households or people with self-contained spaces used by non-borrowing family members or let out. It will also accept properties with two kitchens, to support adaptable layouts, dual-use spaces and modern living arrangements.
Tony Hall, head of business development at Saffron for Intermediaries, said: “This is one of the most significant specialist lending developments we have delivered, and reflects the changing needs of the market. Our new end-to-end property development proposition gives brokers a fully connected pathway from site acquisition through to project completion, with a bridge at the start, development finance in the middle, and an exit bridge at the end. This creates a seamless journey that removes friction and ensures clients have support at every stage of their development project.
“At the same time, we have strengthened our BTL offering to provide greater flexibility for expat clients, limited companies and experienced landlords. These changes allow brokers to service a wider range of complex and investment-based enquiries.”
He added: “At Saffron, we believe progress is achieved through continuous refinement, careful expansion and solutions that reflect how brokers are supporting clients today. These updates sit at the heart of that philosophy.”
