"We know how important a role foster carers in the UK play, which is why we’ve made improvements to our lending policy that will help us to support this sector of over 50,000 households."
Virgin Money and Clydesdale Bank will now accept income from foster caring, using its usual self-employed policy.
Any individuals under foster care should be included as dependants within the mortgage application.
Craig Calder, head of secured lending at Virgin Money, said: “We know how important a role foster carers in the UK play, which is why we’ve made improvements to our lending policy that will help us to support this sector of over 50,000 households.
"We continually review our lending policy and these changes ensure that we can support these key workers in their aspirations of home ownership.”
Craig Calder joined Virgin as head of secured lending in January this year. With over 20 years’ experience in the mortgage industry, Craig joined from Barclays, where he was head of mortgage products and intermediaries.
