85% of self-employed people in the UK say their income hasn’t yet bounced back to pre-pandemic levels.
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 UK is returning to the 95% loan to value (LTV) mortgage market.
The average maximum loan available to mortgage borrowers dropped to a record low in January, according to the latest MBT Affordability Index.
Halifax is changing some of the loan to income limits in its affordability calculations as of today.
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 has capped its maximum LTV for self-employed mortgage applicants to 85% LTV.
Nearly half of prospective first-time buyers have been rejected for a mortgage, according to new research from Aldermore.
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