Saffron BS Mortgage

kennedy1989

Hi there 
Is anyone going through the process at the moment with Saffron? Trying to get an idea of timelines. We had our full application go in on Friday after a DIP a couple of weeks ago. I saw they did a hard search on our Experian files on Friday but not heard anything since. 

Getting nervous as hubby is self employed and took a grant in December as we went back into lockdown and we didn’t know what the situation would be. Just so happens he didn’t really need it and has good cash flow showing Dec through to present. 

Anyone got any experience with how flexible Saffron are? 

Thanks 

K_S

@kennedy1989 If you've used a broker, they would almost certainly have run the December grant past Saffron before placing the case with them and made relevant notes in the DIP, so I wouldn't think there's too much to stress about at this stage.

kennedy1989

K_S said:

@kennedy1989 If you've used a broker, they would almost certainly have run the December grant past Saffron before placing the case with them, so I wouldn't think there's too much to stress about at this stage.

Hey 
Yes we did and he asked Saffron before submitting and they said they are looking case by case. 

Do you know if Saffron only look at Experian? I can’t see any searches from our DIP or hard searches on Equifax only my Experian.

Thanks

K_S

kennedy1989 said:

K_S said:

@kennedy1989 If you've used a broker, they would almost certainly have run the December grant past Saffron before placing the case with them, so I wouldn't think there's too much to stress about at this stage.

Hey 
Yes we did and he asked Saffron before submitting and they said they are looking case by case. 

Do you know if Saffron only look at Experian? I can’t see any searches from our DIP or hard searches on Equifax only my Experian.

Thanks

@kennedy1989 Lenders usually never guarantee that they'll only use one agency, but I can say that in the main, Saffron uses Experian.

kennedy1989

K_S said:

kennedy1989 said:

K_S said:

@kennedy1989 If you've used a broker, they would almost certainly have run the December grant past Saffron before placing the case with them, so I wouldn't think there's too much to stress about at this stage.

Hey 
Yes we did and he asked Saffron before submitting and they said they are looking case by case. 

Do you know if Saffron only look at Experian? I can’t see any searches from our DIP or hard searches on Equifax only my Experian.

Thanks

@kennedy1989 Lenders usually never guarantee that they'll only use one agency, but I can say that in the main, Saffron uses Experian.

Thanks so much for the intel. Last question, do you know how fast/slow they are being? I know it was only submitted Friday but the fact they did the hard search already is quick. Do you know how long they take to let you know about next steps, like if they want a valuation etc.? 

K_S

@kennedy1989 Sorry, I rarely have occasion to use Saffron for resi cases. I did a slightly complicated Ltd. Co. BTL case with them recently and they had a 5 working days turnaround for any new info/documentation. But these are probably entirely different workflows, so may not be comparable.

Nervouslywaiting

kennedy1989 said:

Hi there 
Is anyone going through the process at the moment with Saffron? Trying to get an idea of timelines. We had our full application go in on Friday after a DIP a couple of weeks ago. I saw they did a hard search on our Experian files on Friday but not heard anything since. 

Getting nervous as hubby is self employed and took a grant in December as we went back into lockdown and we didn’t know what the situation would be. Just so happens he didn’t really need it and has good cash flow showing Dec through to present. 

Anyone got any experience with how flexible Saffron are? 

Thanks 

We are the same. No advice though as I am as new to all this as you are! Our application went in with them on Friday and hard search showing as performed the same day. My broker told us not to expect any update before 5 working days have passed due to current back logs. I am so nervous I am barely sleeping! My husband also had a SEISS grant in December so we are in a very very similar situation to you. I feel like I wish they would just tell us if it's likely we'll be declined but I know it doesn't work like that. I think we are destined to end up with a very high interest lender and are probably pushing it for even trying with Saffron but my broker clearly thinks we have a decent chance of being accepted (we pay a fee on mortgage offer) so I suppose I just have to trust them. Its so hard though isn't it. Good luck anyway.

kennedy1989

Nervouslywaiting said:

kennedy1989 said:

Hi there 
Is anyone going through the process at the moment with Saffron? Trying to get an idea of timelines. We had our full application go in on Friday after a DIP a couple of weeks ago. I saw they did a hard search on our Experian files on Friday but not heard anything since. 

Getting nervous as hubby is self employed and took a grant in December as we went back into lockdown and we didn’t know what the situation would be. Just so happens he didn’t really need it and has good cash flow showing Dec through to present. 

Anyone got any experience with how flexible Saffron are? 

Thanks 

We are the same. No advice though as I am as new to all this as you are! Our application went in with them on Friday and hard search showing as performed the same day. My broker told us not to expect any update before 5 working days have passed due to current back logs. I am so nervous I am barely sleeping! My husband also had a SEISS grant in December so we are in a very very similar situation to you. I feel like I wish they would just tell us if it's likely we'll be declined but I know it doesn't work like that. I think we are destined to end up with a very high interest lender and are probably pushing it for even trying with Saffron but my broker clearly thinks we have a decent chance of being accepted (we pay a fee on mortgage offer) so I suppose I just have to trust them. Its so hard though isn't it. Good luck anyway.

I know it’s so hard not knowing and just waiting. We had a request for some more documents and to sign their declaration form alongside the direct debit form which I’m hoping is a good sign, although it may be standard practise with the direct debit form. 

Have you heard anything from them today!? 

rf123

Hello, same position here, mortgage submitted on 8th. Hard searches done next day, request for further documentation and to sign the DD form on 15th. We've been told 5 working day response time after each request for more info etc. The positive thing is that we've been told by two brokers that Saffron do a lot of the checks at the DIP stage (I'm clueless about this though so could be wrong!)

kennedy1989

rf123 said:

Hello, same position here, mortgage submitted on 8th. Hard searches done next day, request for further documentation and to sign the DD form on 15th. We've been told 5 working day response time after each request for more info etc. The positive thing is that we've been told by two brokers that Saffron do a lot of the checks at the DIP stage (I'm clueless about this though so could be wrong!)

Ooo you are a ahead then in terms of a Queue. Hopefully you hear back soon, could even be tomorrow. 

That’s good to know about the DIP. My MA also said once they are at valuation stage it’s basically an offer pending valuation. So feel like I may breathe a little less heavy if we hear about a valuation 🤞🏾

Nervouslywaiting

kennedy1989 said:

Nervouslywaiting said:

kennedy1989 said:

Hi there 
Is anyone going through the process at the moment with Saffron? Trying to get an idea of timelines. We had our full application go in on Friday after a DIP a couple of weeks ago. I saw they did a hard search on our Experian files on Friday but not heard anything since. 

Getting nervous as hubby is self employed and took a grant in December as we went back into lockdown and we didn’t know what the situation would be. Just so happens he didn’t really need it and has good cash flow showing Dec through to present. 

Anyone got any experience with how flexible Saffron are? 

Thanks 

We are the same. No advice though as I am as new to all this as you are! Our application went in with them on Friday and hard search showing as performed the same day. My broker told us not to expect any update before 5 working days have passed due to current back logs. I am so nervous I am barely sleeping! My husband also had a SEISS grant in December so we are in a very very similar situation to you. I feel like I wish they would just tell us if it's likely we'll be declined but I know it doesn't work like that. I think we are destined to end up with a very high interest lender and are probably pushing it for even trying with Saffron but my broker clearly thinks we have a decent chance of being accepted (we pay a fee on mortgage offer) so I suppose I just have to trust them. Its so hard though isn't it. Good luck anyway.

I know it’s so hard not knowing and just waiting. We had a request for some more documents and to sign their declaration form alongside the direct debit form which I’m hoping is a good sign, although it may be standard practise with the direct debit form. 

Have you heard anything from them today!? 

Nope we have still beard nothing but we already signed the declaration  and direct debit on application, as well as provided all our ID and bank statements. They had me on their system as a Mrs instead of Miss so my broker rang them as she sent the application  to get it changed and that's when they requested all those bits. So don't think we are any further ahead, they just asked for them whole she was on the phone.