The Cumberland Building Society has outlined a series of measures designed to support self-employed applicants with their residential mortgage needs.
More than 4.4 million people in the UK are self-employed, and many encounter barriers when applying for home loans.
The society requires a minimum of one year of accounts for a residential mortgage application, rather than the two years often requested elsewhere.
Eligible applicants can access the full residential product range, including first-time buyer options, home-mover lending and remortgage services.
Products are available to sole traders and partnerships, contractors, limited companies and Limited Liability Partnerships where the applicant holds at least a 25 per cent share.
The Cumberland said its people-focused approach is central to assessing applications from self-employed individuals.
Each case is reviewed on a one-to-one basis by a specialist mortgage team, which considers an applicant’s credit file alongside wider circumstances.
When potential issues arise during the process, the society aims to work with applicants to resolve them rather than decline the case based solely on automated criteria.
Terri Lorimer (pictured), mortgage hub manager at The Cumberland, said: “The self-employed community forms a vital part of the local economies they are based in, offering important services which keep our communities moving.
“Yet too often they are treated as higher risk when it comes to borrowing.
“We want to reduce the barriers they face when applying for a mortgage, which is why we look beyond the numbers and develop a relationship with our customers to see the full picture of their circumstances, taking a responsible approach to understand their needs and affordability.
“With dedicated mortgage advisors who will take customers all the way through the mortgage journey from start to finish, we’re on hand to support individuals acquire the right lending which works for them.”
She added: “To make the mortgage process convenient, The Cumberland offers flexible appointment times, including early morning, late evening, weekend, telephone, and in-branch consultations.
“In-branch appointments are available at select locations, including Barrow, Kendal, Dumfries, Workington, and its English Street branch in Carlisle, for customers who prefer face-to-face support.
“Throughout the process, customers work with the same mortgage advisor from initial meeting to completion, building a strong, personal relationship.
“Whether you’re a freelancer, contractor, or small business owner, we would welcome hearing from you for your mortgage needs.”
