Saffron Building Society is a long-established financial provider that was founded in 1849. They have branches in Hertfordshire, Essex and Suffolk. Saffron Building Society offers a range of products for businesses including savings, buy to let mortgages and property development.
Saffron Building Society Commercial Mortgage Options
Buy to Let Mortgages
- Up to 75% LTV
- Offers special situations mortgage for British nationals living outside the UK
- Limited company mortgages of 2 or 5 years
- Everyday buy to let mortgages for 5 years with a maximum loan size of £1 million
- Rental cover of a minimum of 125% of the pay rate is required on some products
- Suitable for existing or first-time landlords
- Can be used for purchase or remortgage
Development Finance
Saffron Building Society offers development finance to experienced property developers which include:
- Typical lending is around £300,000 to £5 million
- Up to 80% of project costs or 65% of GDV
- Offers a bespoke service
- Suitable for residential property developments
- Available for projects throughout England and Wales
Saffron Building Society Commercial Mortgage Eligibility
Expat products are for UK nationals residing abroad purchasing or remortgaging a property in the UK.
Everyday mortgage is suitable for first-time and existing landlords purchasing or remortgaging.
Limited Company mortgages are for landlords operating through a limited company to purchase or remortgage a property.
Saffron Building Society Commercial Mortgage Rates
Everyday Buy to Let Five Year Fixed Mortgage has an initial rate of 3.97% (fixed) and representative 5.20% APRC. 1.5% arrangement fee applies.
Expat Buy to Let Five Year Fixed Rate Mortgage has an initial rate of 4.07% (fixed) and representative 5.20% APRC. 1.5% arrangement fee applies.
Expat Buy to Let Two Year Discount Rate Mortgage has an initial rate of 3.99% (variable) and representative 5.40% APRC. £1,995 arrangement fee applies.
Expat Buy to Let Two Year Fixed Rate Mortgage has an initial rate of 3.77% (fixed) and representative 5.30% APRC. 1.5% arrangement fee applies.
Limited Company Buy to Let Five Year Fixed Rate Mortgage has an initial rate of 3.97% (fixed) and representative 5.20% APRC. 1.5% arrangement fee applies.
Limited Company Buy to Let Two Year Fixed Rate Mortgage has an initial rate of 3.77% (fixed) and representative 5.40% APRC. 1.5% arrangement fee applies.
No rates are available for property development finance.
Saffron Building Society Commercial Mortgage Calculator
Saffron Building Society doesn’t have a commercial mortgage calculator.
Saffron Building Society Commercial Mortgage Reviews
Saffron Building Society only features on a few of the leading customer review sites where the reviews are mixed but the volumes are predominantly positive.
The largest number of reviews is on Smart Money People where most of the reviews are for their savings products. Positive comments include personal service, efficient, helpful and professional staff, and generally pleased with the customer service.
Trustpilot reviews are lower with 81% rating them as bad although there are only 21 reviews. Negative comments include difficulty withdrawing money, slow responses, issues accessing mortgages and wasting time, poor communication and customer service.
Review Centre reviews were average and 67% of reviewers would recommend Saffron Building Society.
Trustpilot – 2.1/5 (based on 21 reviews)
Google Review – no reviews
Reviews.co.uk – no reviews
Review Centre – 3.8/5 (based on 6 reviews)
Smart Money People – 4.8/5 (based on 1,178 reviews)
How To Apply For A Saffron Building Society Commercial Mortgage?
If you want to apply for a buy to let mortgage from Saffron Building Society, you will need to find a broker who works with them. They have a mortgage broker finder service that can help you to find a broker.
If you want to apply for development finance, you can call them on 01799 582886.
Pros
- Offers a range of buy to let mortgages catering for a range of businesses
- Customer reviews are positive overall
Cons
- Doesn’t offer simple commercial mortgages
- Lesser-known provider
- Can only get mortgages through a broker