According to BM Solutions, 40% of self-employed people would prefer flexibility in their mortgage. The lender has released details of a recently conducted survey of self-employed borrowers in the UK.
The survey, carried out to assist in future product design, showed 44% of borrowers would like to see greater flexibility from their lender. Almost 15% said criteria other than interest rates were important when applying for a mortgage, while 40% of self-employed borrowers seek the advice of a financial adviser.
Steve Sandiford, head of borrowing products at BM Solutions, said: ‘A truly flexible mortgage will put the borrower in full control of their finances, in a secure environment. It should include the facilities of overpayment, underpayment, payment holidays, drawdown facility, drawdown of overpayments and interest calculated daily.’
