"Changing our criteria to support the self-employed is part of our ongoing commitment to make it easier for our brokers to do business with this segment."
Additionally, where the loan-to-value is 75% or less, Principality will assess applications based on the latest year’s figures.
Where the loan-to-value is greater than 75% an average of the latest two years will be assessed.
Anthony Fisher, senior manager of mortgage new business, said: “In 2017 ONS statistics confirmed that there were 4.8 million self-employed workers in the UK. Changing our criteria to support the self-employed is part of our ongoing commitment to make it easier for our brokers to do business with this segment.
"We recognise that one size doesn’t fit all, which is why we individually assess each case and make common-sense decisions.”
