Leeds makes self-employed changes
The Leeds will now accept the average of the last three years’ figures when using three years accounts, or the average of two years’ figures when using two year accounts due to length of trading, to calculate income.
It has also removed the previous reference to the 10% variance in annual profits.
Martin Richardson of Leeds Building Society said: “We keep our lending criteria under review to ensure they’re appropriate for us as a business but also that they work for borrowers.
“We are particularly keen to support borrowers in under-served markets, such as professional contractors and the self-employed.”