Saffron for Intermediaries has announced the launch of its professional income boost range for young professionals with home-ownership aspirations.
The range will offer borrowers who meet the relevant criteria loan-to-income-ratios of up to 5.5.
Head of business development, Tony Hall, said: “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 professionals than some other equivalent products, in response to the changing needs of brokers and their customers."
The product range is available to young professionals in selected industries, who will see their salary grow as they progress in their career.
This includes accountants, dentists, solicitors, and professionals not often considered by other lenders, such as management consultants and investment bankers on graduate schemes.
The full product range includes two and five-year fixes at 80 per cent, 85 per cent, and 90 per cent LTV, with rates starting at 5.27 per cent.
tom.dunstan@ft.com
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