As the lending specialist, we are here to assist all contractors, including those with a less than perfect credit record.
We have listened to your feedback and are pleased to announce a range of enhancements to our contractor criteria, to help get life moving for your clients.
These changes are under embargo until Friday 1st April.
Highlights:
> Enhanced affordability: 48x weekly rate for self-employed contractors
> Day 1 contractors considered where at least a 1 year track record of employment within same line of work
> CIS workers now only need to provide 1 year’s SA302 and tax year overview along with the last 3 months’ payslips or invoices
> All LTVs and Adverse Tiers available to contractors
Plus, reduced minimum time requirement in 2nd job down to 3 months
Please see attached our new Self Employed and Contractors Guide, and our updated Criteria Guide, Residential Application Checklist and Mandatory Documents Guide that reflect these updates. These will also be available to download from our website on Friday 1st April.
These changes are the beginning of several enhancements we will be making this year to our criteria and proposition, and we look forward to letting you know more over the coming months.
