These changes will provide applicants with flexibility and support in making their dream a reality by assisting them to purchase a new home or remortgage their existing one.
Aldermore takes a human approach to lending, with advisers and underwriters considering each case on an individual basis.
Aldermore provides a range of mortgages with competitive rates and will consider applications from first-time buyers through to existing homeowners and landlords, including those who run their own business, directors of private limited companies, sole traders, contractors, consultants and professional partners.
- Applications should be accompanied by, one year of accounts prepared by a suitably qualified accountant; accountants certificate SA302 and accompanying tax overview documents obtained from HMRC.
- Unlike other lenders Aldermore will usually use the latest years’ figures rather than an average of the last two years when making the assessment, if net profit is level or rising.
Charles Haresnape, Aldermore’s Group Managing Director, Mortgages, says: “There’s a growing demand for a tailored approach for self-employed applicants and their needs. As they often do not fit the ‘norm’ for many high-street lenders, it can be a real challenge for them to receive the financial support they need to buy a home. Self-employment now accounts for 15% of the UK’s employed market*, and we are consistently working to make sure the process of applying for a mortgage is as straightforward as possible.
“We have always listened carefully to our brokers and customers to ensure our product range can offer the best possible solution for each applicant’s unique situation. One in four Aldermore mortgages comes from a self-employed person and I feel the change to our mortgage criteria will help make the process much easier for our self-employed customers to apply for a mortgage, whilst providing them with the support they need.”
*ONS Report Trends in self-employment in the UK 2001 to 2015 (13/07/16)
For further information, journalists can contact:
Rachael Snelling, Aldermore
Phone: 0208 1853 102
Follow us on Twitter: @AldermoreNews
Rozie Green, Lansons
Phone: 0207 566 9724
Notes to editors:
For further information about Aldermore, our financial backers and our PR contacts, please review our Notes to Editors page.