Mortgage News
The Newcastle simplifies self-employed mortgage applications
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Owain ThomasNewcastle Intermediaries has simplified the application process for self-employed borrowers and revised its product range to include free valuations on properties up to £500,000.
The lender has sought to support those recently becoming self-employed by applying an individual case assessment, with just one year’s accounts, an SA302 form or a completed accountant’s certificate required.
Interest rates start at 2.1%.
Newcastle Intermediaries head of mortgage distribution Steve Carruthers said the lender was looking to cover the growing self-employed population.
“We appreciate that one size doesn’t fit all and it can be difficult to find a lender that truly understands the needs of self-employed clients. That’s why our policy aims to make the application process much easier.”
The products are available through the following clubs and networks: Sesame, Openwork, L&G, Mortgage Advice Bureau, Intrinsic, First Complete, Pink Network, The Mortgage Alliance, Premier Mortgage Services, SimplyBiz Mortgages, Brilliant Solutions and Tenet.
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Speaking at The Specialist Lending Event earlier this week, Aldermore group mortgage commercial director Charles McDowell warned that self-employed borrowers were in danger of de-selecting themselves.