Saffron Building Society updates mortgage criteria, expands income assessment, increases LTV limit, and reduces buy-to-let ICR.
Saffron Building Society has updated its mortgage criteria, enhancing income and affordability assessment for borrowers with pension and investment pots, increasing LTV limit for visa applicants to 90% from 75%, and accepting spousal visas and pre-settled status. For buy-to-let landlords, the Interest Coverage Ratio (ICR) requirement has been reduced to 110% from 125%. These changes aim to help the lender approve more complex cases and address borrowers' evolving needs.
August 28, 2024
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