If you have clients who are contractors, our Bespoke service brings a flexible approach to assessing their income. As long as the case meets our five golden rules, one of our Bespoke underwriters will assess the case, taking a common sense approach.

What are our five golden rules?

Your client will need to meet the following:

• Residential mortgage only
• Pass our credit score and meet our minimum income and loan size requirements
• Income must be paid in GBP
• Up to 90% LTV (including fees)
• Must meet our standard property criteria.

How do I access Bespoke?

• Contact your BDM
• Your BDM will talk you through how to submit the AIP. AIP decisions are within 24 hours
• Your case will be dealt with by the same underwriter until completion.

How we can help your professional contractors

We’ll consider contractors who:

• Are employed by an umbrella firm
• Have gaps between contracts
• Have multiple contracts
• Are on day 1 of a contract

Plus for experienced contractors we’ll apply a reduced haircut.

Here’s a couple of examples of how we’ve successfully helped some professional contractors:

• The applicant is a doctor and relatively recently began a contract to cover a period of maternity leave. She had only been contracting for 3 months at the point of application and due to the nature of the contract we were aware that it may not be renewed but proceeded as proposed as our underwriter was confident that an alternative contract/employment could be obtained at a similar level due to her profession and experience.

Application for loan of £272,000 – 85% LTV

• Two applicants recently returned to the UK after a period of living abroad. One of them continued on an employed basis with their current employer but the other began working for their employer as a contractor. The role was fundamentally the same but on a day rate basis rather than the usual employed terms.
• Although one of the applicants was technically new to contracting their track record in the industry was sufficient. Also, even though they didn’t have a 3 year UK residential address history, as their credit score was good we were happy with their application to proceed.

For more information, speak to your BDM today.

Legal & General Partnership Services Limited
Registered in England and Wales No.0504500. Registered number 300792.
Registered office: One Coleman Street, London EC2R 5AA
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority for advising and arranging insurance.