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Expanded higher LTV criteria (95% LTV)
Remortgage & Additional Borrowing
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Income and employment → All guides
We will take 100% of a contract worker's income subject to them meeting the following requirements:
Can be considered where the applicant has 12 months continuous employment within a similar role and industry.
The applicant must have a minimum of 3 months remaining on their current contract at the time of the application being submitted or have a future contract in place.
Applicants with less than 12 months continue employment within a similar role may be considered if working in a skilled or professional role.
Day Rate Contractors income will be calculated as follows;
Annual Income = Day Rate x 5 x 46
Documents we require;
(To verify 12 months continued employment)
Can be considered where the applicant has 12 months continuous employment within a similar role and industry and continued employment can be verified.
Documents we require;
(To verify 12 months continued employment)
Should be entered as fixed term contractors.
Can be considered if the applicant has 12 months continuous employment in the same line of work. This can be from different companies and can be against previous or future guaranteed work.
Documents we require;
(To verify income)
(To verify 12 months continuous employment/income)
Where future employment is being evidenced a contract showing a minimum of 3 months remaining is required.
Calculating Income