The self-employed market is growing – don’t miss out.
With 15% of the UK workforce self-employed – and the number set to grow – you need a lender who understands how they work.
Because lending to self-employed clients is such an important part of their business, Coventry for intermediaries has designed policies and products that fit their needs.
A quick snapshot:
- Directors with >20% shares – they take net profit (after corporation tax) plus salary, rather than dividends, to calculate affordability – it often means clients can borrow more.
- Directors and sole traders – unless the last two years’ figures vary significantly, they use the latest year to determine income, not an average of the two like other lenders.
- Daily rate contractors – they use their day rate for affordability.
- They have a versatile range of products – many with no ERCs, and a flexible Offset that helps self-employed clients make the most of their earnings and savings.
If you have self-employed clients, you should be talking to Coventry for intermediaries.
Want to know more? They’ve created a new section on their website that has everything you need to know about their approach to self-employed lending, their criteria and some real life case studies.
