Support for self-employed borrowers
At a time where self-employed borrowers often feel subject to lending restrictions and face greater scrutiny, we recognise that this group of individuals contain strong applicants who have expertly navigated their businesses through the pandemic.
With this in mind, we have increased the Loan to Value (LTV) offered to self-employed applicants, who can now benefit from up to 95% LTV mortgages.
We have also enhanced our Loan to Income (LTI) multiples for all borrowers, including self-employed, to x4.49 above 80% LTV*. Additionally, we have increased our maximum loan size limits throughout our core Residential product range and across each LTV banding from 75%-95%.
*The exception to the higher LTI are applicants wishing to consolidate debt, or those who have mismanaged their finances in the past – these borrowers will be restricted to an LTI of x4.