Saffron for Intermediaries has launched two new, 2-year fixed-rate products to their self-employed and contractor range, now offering an 85% loan-to-value (LTV).

The products offer a 2-year fixed rate of 4.17% for self-employed and 4.07% for the contractor, with a minimum and maximum term of 5 and 40 years consecutively.

The self-employed mortgage supports those with one-two years of accounts, those with three or more years will qualify for a standard owner occupier mortgage.

Tony Hall, head of mortgage sales at Saffron, said: “Our commitment to those who are self-employed has always been something we are very proud of and will continue. Whilst some have had issues with other lenders rejecting applications, we have taken a common-sense approach to our lending. Our dedicated BDM team have worked solidly throughout the last year with brokers to ensure they know what they need for a successful application and what additional information can help with an application.

“Doing this has meant we have provided a mortgage to those who may have been rejected elsewhere. I am over the moon that we can now take another step to help with our two new 85% LTV products which are available from today.

“When we say a common-sense approach to lending, we mean we take the time to look at each application on an individual basis. The individual may have taken a grant as a buffer or safety blanket but not spent it.

“They may have had a few months of reduced trading but bounced back or diversified and are now on course to do better than projected. To understand the individual case, we may need a bit more information than before.

“Still, our underwriters will have a snapshot of where they are now and where the finances are heading thanks to taking that little extra time and may be able to offer them the mortgage they so desperately want.”