"This shift in working patterns gives a fantastic sales opportunity for brokers."
Self-employed mortgages, available to customers with one year’s trading accounts, include five-year fixed rates from 3.07% up to 80% LTV and 3.57% up to 90% LTV.
Five-year fixed rates for contractors have been reduced to 2.87% at 80% LTV and 3.37% at 90% LTV.
Anita Arch, head of mortgage sales at Saffron, commented: Long gone are the days of a job for life or income being generated from just one source each month. Self-employment and contract work is most definitely on the up with 4.8 million choosing to work this way, according to the Office for National Statistics.
"This shift in working patterns gives a fantastic sales opportunity for brokers. Using a specialist lender is a proven way to successfully fulfil a customer’s mortgage needs when they choose to work like this and don’t necessarily fit into standard lending criteria.
"All applications made with Saffron are individually assessed by a skilled underwriter giving brokers customers an efficient and personal service taking into account what can sometimes be a unique employment situation.”
