Halifax Intermediaries relaxes self-employed criteria

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Halifax Intermediaries has cut the level of income information it needs from self-employed mortgage borrowers from three to two years.

Halifax will keep considering applications from those who have been self-employed for less than two years.

However, these cases must be self-employed for at least one full year. Applications will then be reviewed by an underwriter.

Applications started before 2 October 2017 will still need three years’ income details.

Halifax Intermediaries head Ian Wilson says: “There are almost five million self-employed workers in the UK and almost 40 percent of employment growth has come from self-employed or small business owners over the last decade.”

He adds: “Adapting our policy to support self-employed people is part of our ongoing commitment to making it easier for brokers to do business with this key market segment.”

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