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Clydesdale improves self-employed offering

Jessica Nangle

September 27, 2019

Clydesdale Bank Intermediaries has improved its criteria for assessing applications from self-employed contractors.

The bank will now accept applications up to 95% LTV from contractors with more than one year’s experience who have had their contract renewed at least once.

For those with less than one year’s experience, the maximum 70% LTV.

Clydesdale will also now use the current contract rate for income calculation which is multiplied by 46 weeks.

Sarah Green, head of intermediary mortgages, said: “Mortgages for contractors is a segment in which Clydesdale Bank has long held a strong presence and is an area we’re proud to be able to support through our underwriting skill and expertise.

“We’re delighted to announce these positive changes today which will not just make us easier to do business with but will also allow us to help a greater range of customers.

“The improvements follow engagement with partners throughout the broker community and focus on what is most important to our customers, so we’re confident the changes will have a positive impact in the market.”

The bank accepts applications from self-employed contractors working in any sector subject to a minimum calculated income of £50,000 per annum.

Gaps between contracts of up to six weeks are acceptable, with any long term breaks requiring referral to the lender.


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