Tandem increases LTVs for self-employed borrowers

The cap is moving from 85 per cent to 90 per cent.

The new higher LTV applies for both straight purchases, including first-time buyers, as well as those looking to include debt consolidation in their borrowing. A maximum of £60,000 in unsecured debt is allowable when borrowing up to 90 per cent LTV.

Acceptable deposits include family gifted deposits and equity.

Roger Morris (pictured), director of mortgage division sales and distribution at Tandem, said that the increase to LTVs demonstrated the lender’s desire to help self-employed borrowers.

He continued: “Feedback from introducers and our growing experience of self-employed cases has allowed us to improve our offering to this important group, which is still underserved by the mainstream lender market.

“Flexibility is key and is what drives Tandem’s mission to offer easier ways to save, borrow, spend and share money. As a greener, digital bank Tandem, is also well positioned to help consumers transition to a lower carbon lifestyle.”

Tandem brought forward its launch into the residential market earlier this year, citing demand from brokers.