SAFFRON BUILDING SOCIETY REMOVES PROC FEE CAPS ON ALL PRODUCTS
28 April 2023
- Saffron announces that it will remove proc fee caps from its entire range of award-winning products
- This announcement will especially benefit brokers arranging larger loan sizes
- The change comes into effect immediately and is available to all brokers
28 April 2023
Saffron Building Society is announcing that it is removing proc fee caps from its full product offering.
The news comes after the building society announced an increase in its max loan sizes last month. The recent changes mean that the Society now offers:
- £3m up to 80% LTV and £1m up to 90% LTV across its residential and BTL products
- £3m up to 80% LTV for self-build
Before this announcement, the proc fee cap for Saffron’s residential and BTL product range was £10,000 and for self-build it was £20,000. There is now no limitation on proc fees for Saffron products, making it easier for brokers to understand how they will be remunerated.
Tony Hall, Head of Business Development comments: “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. What’s more, 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.”
Earlier this week, Saffron refreshed its product range ahead of the busy spring homebuying season, including reductions across selected Self-Build, Residential and BTL products.
For more information on Saffron’s product offering, you can visit
www.saffronforintermediaries.co.uk/products.
Alternatively, you can contact the Saffron Intermediary Support Team or your BDM Team with any specific product and criteria questions on 01799 582925.
//ENDS
Notes to Editors:
About Saffron Building Society
Saffron Building Society is a mutual organisation with over 170 years of experience in supporting its members. Saffron distributes its award-winning mortgages through intermediaries, with a focus on meeting the needs of non-typical cases. The Society also offers a wide range of savings products including cash ISAs and children's accounts available direct through its online, post and branch channels. The Society’s branches are based in the East of England and it recently surpassed the £1bn milestone in assets.
Saffron for Intermediaries team
Debby Tedder – Telephone BDM, Lizzie Clack – Telephone BDM, Simon O’Donnell – BDM, Linsey Smith – Business Development Assistant, Sophie Gould – Telephone BDM, Tony Hall – Head of Business Development, Lorna Haynes – Business Development Assistant, Lee Williams – BDM, Jacqui Turner – BDM, Phil Lawford – National Account Manager, Holly Andrew – Intermediary Team Manager, Leanna King – Business Development Assistant and Lesley Terry – BDM.
