Tandem Bank has announced its latest measure to enhance support for self-employed clients by raising the loan-to-value (LTV) ratio from 85% to 90%.
As part of the new initiative, self-employed individuals will benefit from a range of features, including a maximum LTV of 90% for debt consolidation (up to £60,000 of unsecured debt) and property purchases, including first-time buyers.
Tandem Bank also accepts various acceptable deposit types, such as family gifted deposits and equity contributions.
This move underscores Tandem’s commitment to addressing the needs of underserved customer segments and providing comprehensive financial solutions.
Roger Morris (pictured), director of mortgage division sales & distribution at Tandem, highlighted the importance of supporting self-employed individuals who often face challenges in accessing suitable lending options from mainstream lenders.
Morris added: “Through valuable feedback from our introducers and our growing experience in dealing with self-employed cases, we have been able to refine and improve our offerings for this important customer group.
“Tandem prioritises flexibility and strives to provide easier ways for individuals to manage their finances, save, borrow, and spend. As a digital bank committed to sustainability, we are well-positioned to assist customers in their transition to a lower carbon lifestyle.”
