Saffron for Intermediaries has raised the maximum loan size on its self-build large loan and residential large loan products.
This was the latest in a series of upgrades to the lenders’ proposition, designed to support more complex borrowing requirements and progress in the larger loan market.
Saffron lifted the maximum loan size to £4m from £3m on its self-build large loan products.
The lender also launched a new product category – residential large loan – which it will source up to £5m, up from £3m, at up to 80% loan-to-value (LTV).
Saffron reduced rates across its range, including on residential, self-employed, contractor and buy-to-let products.
Residential products saw reductions of up to 0.70%, with 5-year fixed rates at 80% LTV starting at 5.77%.
The firm increased the LTV on products in its retirement interest only mortgage range and introduced a new LTV band of 90% on its first-time buyer range.
The enhanced LTV on their retirement interest only mortgages is now 60%.
Tony Hall (pictured), head of business development at Saffron for Intermediaries, said: “At Saffron, we pride ourselves on working closely with brokers to understand exactly what they want and need, reflecting these conversations in frequent enhancements to our product criteria.
“We know that placing larger loans can often be a challenge, and so are delighted to increase our maximum loan sizes today.
“This aligns with the enhancements to our self-employed product range announced in September, helping to ensure that we provide a well-rounded offering in the complex lending space.”
He concluded: “Today’s developments are just one way that we aim to help brokers to support borrowers who might not fit into traditional lending criteria.
“We are excited to help as many people as possible achieve their dream of homeownership.”
