We are delighted to announce exciting changes to our self-employed mortgage criteria, which will allow company owners who have been in business for as little as a year to buy a home or remortgage.
We have made these changes to help cater for the growing proportion of people who are choosing to work for themselves and finding it difficult to obtain funds from the many lenders who adopt a tick box decision-making process
By contrast, we cater for a wide variety of circumstances, offering competitive rates across our portfolio. And because our friendly and experienced mortgage team are dedicated to getting to know each applicant personally, we can make common sense decisions that take all of their circumstances into consideration.
This is the latest development in our ‘building better futures’ mission to help people who don’t quite fit the mould when it comes to applying for a mortgage, in line with our founding mutual ethos, by specialising in a range of niche areas, which also include lending into retirement, self-build mortgages and guarantor/family assist arrangements.
Our Head of Lending Graham Carter said: “We’ve identified a gap in the market for the growing number of self-employed people, and we are aiming to fill it with a new set of criteria catering for people running their own business, with a varied range of income sources. .
“Our team manage cases end-to-end, personally underwriting each one and taking the time to really understand each borrower’s situation, doing our very best to help them.”
Our new self-employed mortgages at a glance
Other key features
We will consider a minimum of one year’s trading, for applicants with a strong track record in their field
We allow varied and mixed income types – salary, dividend, net profit, retained profit or a mix of all three
Loans of up to 95 per cent loan-to-value are available
We will consider all types of self-employed status: i.e. sole trader, director of a limited company or part of a limited liability partnership
We will also take into account a wide range of evidence, including SA302s, tax computations, full accounts or, in some cases, a simple accountant’s reference
Each application is personally underwritten by our experienced team, who will fully consider each case on merit
We don’t credit score and provide full end-to-end management of every case
Other niche areas in which we specialise include later-life mortgages (including Retirement Interest Only), self-build and family assisted lending.
For more details of our general product range, visit http://beverleybs.co.uk/mortgages. You will also find more information about our approach to lending in our Intermediary section
Notes for editors
For further information, or to arrange interviews, please contact Tracy Fletcher of By Tracy Fletcher Ltd PR, via 07983 633385 or tracy@bytracyfletcher.com
About Beverley Building Society
Beverley is the only independent building society in East Yorkshire. We have been supporting our community since 1866 and are committed to contributing to the vibrancy of our region by making a difference.
As a true independent, we are committed to living mutuality by building better futures for our members, new and existing borrowers and savers, our people, our community and our sector at large.
We’re powered by highly committed colleagues who go over and above, every day, to offer our customers quality, friendly, personal service.
In an age where the financial services market is moving, at pace, towards AI-powered, automated solutions, we believe there is a place for people-centred financial services and are passionate about maintaining that personal touch.
We aim to make enough profit to ensure the Society is financially strong and sustainable, and can invest in continual product and service improvements for our members. We do not pay staff bonuses and all our profits are re-invested to support this goal.