The lender said that, as buy-to-let landlords often face affordability challenges due to Interest Coverage Ratio (ICR) restrictions, it is now improving its top-slicing criteria, reducing the ICR requirement down to 110% from 125%.
Tony Hall, Head of Business Development at Saffron for Intermediaries, commented:
“Listening to our brokers is at the heart of what we do at Saffron, and their feedback drives the criteria changes we've made today. Through our panel discussions and twice-yearly surveys, we're in tune with the real challenges they face. We know that clients' needs are becoming more complex and varied, and we believe in giving brokers the tools to meet those demands.
“These changes are the first in a series designed to help us say 'yes' to more complex cases. We take an adaptable approach to our criteria, meaning that brokers can take elements of each to put together the right solution for their client’s circumstances.”
