Precise Mortgages improves self-employed acceptance criteria

by Aaron Strutt

Sep 16 2014

Precise Mortgages has made changes to its self-employed acceptance criteria by reducing the amount of documentation applicants need to provide to qualify for a mortgage.

The lender will now offer mortgages to borrowers if they have one year’s accounts or an SA302.

Previously, it was harder to qualify as borrowers needed a minimum of two years trading history and accounts for loans up to 75% loan-to-value. This increased to three-years trading history and two-year’s accounts up to 85% loan-to-value.

Aaron Strutt, product manager at Trinity Financial, says: “Precise Mortgages has a range of mortgages suitable for those with credit blips and a small amount of adverse credit.

“Trinity has access to a couple of lenders accepting one year’s accounts and their rates are more competitively priced.” 

There is a huge amount of demand from self-employed borrowers at the moment and many of our clients work for themselves. The number of self-employed borrowers in the UK is at the highest level since records began nearly 40 years ago.

If you are self-employed and you would like help to secure a mortgage, call Trinity on 020 7016 0790.