General conditions

Saffron Building Society (Saffron) will only appoint an intermediary to its panel if the intermediary is registered with the FSA directly or if it is registered with a network, which is registered with the FSA.

If an intermediary is proven to have breached the requirements under Mortgage Regulations, Companies Act, Financial Services Act 1986, Consumer Credit Act 1974, Saffron will remove the intermediary from their panel and may withhold any outstanding payments.

Appointment to Saffron's panel, does not constitute appointment as an agent of Saffron and does not entitle the intermediary to claim to represent Saffron in anyway.

If Saffron does not receive any applications from you within a 12 month period, you may be removed from Saffron's panel

Fees

Saffron Building Society (Saffron) will pay an Intermediary fee for introduced mortgage business in line with our published terms and conditions.

The minimum fee which Saffron will pay at any one time is £100 - any fees due under this amount will be held until the fees payable to the intermediary exceed £100. Saffron will not pay interest on such an amount.

The maximum fee which Saffron will pay is £1,000 per application.

Saffron will pay the fee at the beginning of the month following completion of the loan. (eg. If the mortgage completes on 15 June, Saffron will pay the fee at the beginning of July).

Fees will be paid by Account Payee cheque.

If the intermediary is not registered in its own right with the FSA, any fees due will be paid to the network to which the intermediary is registered.

Saffron may vary the fee structure at any time. However, we will always notify panel intermediaries within 4 weeks of the effective date or at the time of an enquiry, whichever is sooner.