Saffron Building Society is an independent, mutual institution that has built a strong reputation as a specialist mortgage lender. While it operates as a traditional building society with local branches in Essex, Hertfordshire, and Suffolk, its mortgage lending reach extends across England and Wales.
The society is widely known for its manual, "common-sense" underwriting, focusing on borrowers with complex circumstances who are often declined by high-street lenders' automated systems.
You can use our free rates tool to compare mortgage rates from Saffron Building Society against other products and lenders. For tailored advice about Saffron’s product range and its suitability for you, simply click ‘Enquire now’ on your selected deal.
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About Saffron Building Society
Founded in 1849, Saffron Building Society is owned by its members, not shareholders. This mutual status allows it to focus on long-term value and flexible service.
Its primary strength in the mortgage market is its willingness to manually underwrite every application. This lending approach means they don't rely on credit scoring alone making them a viable lender for borrowers with complex circumstances.
Mortgage Products
Saffron Building Society offers a diverse range of mortgage products, with a clear emphasis on specialist and non-standard borrowers. Many of their products are available exclusively through mortgage intermediaries (brokers).
Their key mortgage categories include:
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Standard Mortgages: up to 95% LTV products for first-time buyers and home movers
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Self-Employed Mortgages: A core specialism. They are known for their flexible criteria for self-employed borrowers, including considering applicants with just one year's accounts
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Contractor Mortgages: they have specific policies for day-rate, zero-hour, and Construction Industry Scheme (CIS) contractors, often using a generous income calculation
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Buy-to-Let: including products for limited companies, first-time landlords, and expat buy-to-let
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Self-Build: A dedicated range for customers building or renovating their own homes
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Later Life Lending: Products include Retirement Interest-Only (RIO) mortgages and "Lending into Retirement" options
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Joint Borrower Sole Proprietor (JBSP): Allows a family member to assist with affordability, helping a borrower get on the property ladder
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Professional Mortgages: Offers enhanced income multiples for a specific list of qualified professionals like doctors, solicitors, accountants, and architects
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High-Net-Worth Mortgages: Bespoke mortgages for high-net-worth individuals with incomes over £150,000, assessed purely on affordability
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Pros and Cons of a Saffron Building Society Mortgage
Here is a balanced overview of the advantages and disadvantages of choosing Saffron for your mortgage.
Pros:
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Specialist Lender: This is their main strength. They have a product for almost every complex situation, from self-employed and contractors to self-builders and expats
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Manual Underwriting: Every application is reviewed by a person, allowing for common-sense decisions based on individual circumstances, not just a credit score
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Flexible Income Assessment: They are known for their generous and realistic income calculations, especially for professionals, contractors, and the self-employed
Cons:
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Mainly Intermediary-Only: The vast majority of their specialist mortgages are not available directly to the public. You must go through a mortgage broker to access them
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Rates Can Be Higher: As a specialist lender, their rates are often not as low as the "headline deals" from major high-street banks, who are competing for "standard" borrowers
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Limited Branch Network: Their physical branches are concentrated in the South East, so a face-to-face direct application is not an option for most people
Customer Service and Reviews
Saffron Building Society has an excellent reputation for customer service, especially among mortgage brokers who deal with them regularly. They have won numerous industry awards for their service and innovative products.
On Smart Money People, their mortgage products have an average rating of 4.6 out of 5. Reviewers frequently praise the professional, efficient, and personal service, highlighting that the staff are helpful and knowledgeable.
How to Apply for a Mortgage with Saffron
There are two distinct paths to apply for a mortgage with Saffron, depending on the product:
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Directly (Standard Products): For their standard residential and first-time buyer mortgages, you can enquire directly through the Saffron Building Society website or by visiting a branch (if local) to book an appointment
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Through a Mortgage Broker (Specialist Products): This is the main (and recommended) route. To access their full range of specialist mortgages (self-employed, contractor, buy-to-let, RIO, etc.), you must use an independent mortgage broker
Make an enquiry here to take advantage of a free, no-obligation chat with a mortgage broker who specialises in Saffron’s product range and can help you access their deals.