We’re delighted to announce that, as the government roadmap continues to take shape, we can create more flexibility in our criteria surrounding COVID-19 factors such as furlough and self employment.

Full details of the new changes are available on the website here, but in the meantime we have the key facts below:

• We accept furloughed applicants and will take the furlough maximum amount (60%) – maximum 80% LTV.
• We can accept self employed applicants who have taken the 1^st or 2^nd Government grant – maximum 80% LTV (they must not have taken a grant since).
• For self employed applicants we will use the higher of Net Profit after Tax or Salary & Dividends and use an average of the last 2 years.
• 50% of Bonus/Commission/Overtime accepted (100% if guaranteed).
• Day rate contractors with day rate used for calculation up to 80% LTV (income assessed as self-employed  >80%).

Product launches and withdrawals

There are various factors lenders consider when entering the market.

If you want an insight into the process we take as lenders when launching or withdrawing products, click our blog here to find out more.