Metro Bank has relaxed its criteria so that it no longer requires contractors to have 12-months’ experience working in a fixed-term role, so long as applicants can prove that they have 24 months’ continuous working history in the same industry.

In an email to brokers confirming the change, Metro says that income will be assessed as guaranteed based on the amount specified on the contract.

The lender will calculate annual income on the basis of the daily rate multiplied by five days and then by 46 weeks unless the contract specifies it is less.

There is no minimum contract value and Metro will consider any profession, not just IT workers.

The lender will allow contract gaps of up to six weeks in the last 12 months.