Improvements have been made to criteria enabling more borrowers to take advantage of the market leading self-certification products funded by TMB. Loans of up to £1 million are now available; employed applicants can get up to 90% loan-to-value; those trading with only one year’s figures can get up to 85% loan-to-value; and first-time buyers can now borrow up to £300,000 or 85% of market value.
Commenting on the changes, Tony Jones, managing director at Pink Home Loans said: “The criteria changes affect the range of self-cert products offered to member brokers, including those exclusively available through Pink Home Loans. Self-cert mortgages are on the increase due to the changes taking place in the employment market and, with new working patterns emerging, the needs of borrowers are consequently evolving. Lenders such as The Mortgage Business and Pink Home Loans are responding to the changing needs of our customers.”