Saffron for Intermediaries has launched a Professional Income Boost range, offering mortgage borrowers up to 5.5 times loan to income (LTI) ratios.
The new range is aimed at professionals in the early stages of their career in select industries, including accountants, dentists, solicitors, and professionals the lender says are not often considered by other lenders, such as management consultants and investment bankers who are on graduate schemes.
The full product range includes two- and five-year fixes at 80%, 85%, and 90% LTV, with rates starting at 5.27%.
This announcement follows the recent criteria changes announced by Saffron for Intermediaries in August.
Saffron for Intermediaries head of business development Tony Hall says: “Young professionals often struggle to meet the affordability criteria for loans that reflect their full earning potential.
“This range aims to solve that issue, by recognising that their income is likely to grow relatively quickly. Our new range also accepts a broader range of professions than some other equivalent products, in response to the changing needs of brokers and their customers. We look forward to continuing to work with brokers to help more young home buyers or movers.”