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.”
