Saffron Building Society specialises in buy-to-let mortgages and property development finance. Established in 1849 with branches in Hertfordshire, Essex and Suffolk, Saffron Building Society also offers savings and investment products for businesses. As of 02/06/2020, all buy-to-let products are under review and not open to new applications.
Saffron Building Society Business Banking
Business e-saver account (Issue 7)
Businesses can save with a minimum deposit of £10,000 and manage the account entirely online. This is an easy access account giving you the freedom to withdraw whenever you want. Interest rates are 0.10% Gross p.a./AER. This account is eligible for a limited company, limited partnership, limited liability partnership or charity registered in the UK.
Sports and Social Clubs Account
An easy access savings account for Clubs, Societies or Associations registered in the UK. You can open an account with just £1 and withdraw whenever you need to. The current interest rate is 0.20% Gross p.a./AER but it will drop to 0.05% from 19 August 2020.
Saffron Building Society Business Finance
All buy-to-let mortgages are currently under review (as of 02/06/2020)
Finance is available for experienced property developers. Saffron Building Society typically provides funding of between £500,000 and £3 million. The Building Society can lend 75% of project costs and 65% of Gross Development Value. Development finance is open to developments across England and Wales, but there’s a particular interest in sites in London, the South East and East Anglia.
Saffron Building Society Reviews and Ratings
Online reviews for Saffron Building Society are written by both personal and business customers and can refer to a range of products.
Most public reviews are on Smart Money People where the large majority of customers rate Saffron 5/5. Many of the new mortgage customers are pleased with Saffron’s specialist buy-to-let products for British expats. They’re also happy with the efficiency of the service and age of the brand.
Trustpilot reviews are more critical with more 1/5 ratings than 5/5.
- Specialist in buy-to-let mortgages
- Mainly positive reviews across the different products.
- Buy-to-let products currently not available (as of 02/06/2020).