85% of self-employed incomes still below pre-pandemic levels
85% of self-employed people in the UK say their income hasn’t yet bounced back to pre-pandemic levels.
Lenders tighten self-employed affordability criteria
The number of cases where at least one lender is available to meet the loan requirements of self-employment mortgage applicants has fallen in February.
Bank of Ireland moves back into 95% LTV mortgage space
Bank of Ireland UK is returning to the 95% loan to value (LTV) mortgage market.
Average maximum loan available to borrowers hits record low
The average maximum loan available to mortgage borrowers dropped to a record low in January, according to the latest MBT Affordability Index.
Halifax adjusts LTIs for lower incomes and self-employed
Halifax is changing some of the loan to income limits in its affordability calculations as of today.
News analysis: No let-up for the self-employed
Despite the probable boost to the economy from the imminent Covid vaccine, lenders are likely to maintain their tougher rules for self-employed borrowers.
Nationwide restricts self-employed lending to 85% LTV
Nationwide has capped its maximum LTV for self-employed mortgage applicants to 85% LTV.
Nearly half of first-time mortgage applicants rejected during Covid-19
Nearly half of prospective first-time buyers have been rejected for a mortgage, according to new research from Aldermore.
Newcastle BS Intermediaries adds new requirements for self-employed
In addition to existing requirements, the society is now requesting the last three months business bank statements from borrowers that clearly demonstrate current trading levels