Principality loosens self-employed criteria

Ryan Bembridge

April 25, 2018

Principality Building Society has relaxed its self-employed lending criteria by reducing the level of information it requires from three years to two.

Meanwhile when the loan-to-value is less than 75% Principality will assess applications based on last year’s information alone.

Anthony Fisher, senior manager, mortgage new business, Principality Building Society, said: “In 2017 ONS statistics confirmed that there were 4.8 million self-employed workers in the UK.

“Changing our criteria to support the self-employed is part of our ongoing commitment to make it easier for our brokers to do business with this segment.

“We recognise that one size doesn’t fit all, which is why we individually assess each case and make common-sense decisions.”

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