Saffron for Intermediaries has launched a campaign to help its broker partners get more self-employed mortgage applications approved the first time around.

Since 2020 the self-employed have seen increasing challenges when applying for a mortgage and the ‘one size fits all’ approach of the larger lenders has posed challenges for more complex cases.

In a bid to further support brokers and their self-employed clients, Saffron For Intermediaries commissioned an independent survey to better understand how the self-employed feel about the mortgage market and what they perceive to be the stumbling blocks preventing them from achieving a successful application.

The survey went out to 1,000 self-employed people and the headline statistics include:

• Nearly half (49%) said they wouldn’t feel confident finding a mortgage lender that offers an affordable self-employed product;

• Less than 1 in 5 (19%) believe there is a good choice of lenders who offer self-employed mortgages

• Nearly three quarters (73%) of participants surveyed believe that being self-employed puts them at a disadvantage when applying for a mortgage

• Only 15% agreed with the statement that there are plenty of mortgage products available on the market for self-employed individuals

The data captured by the survey highlights how important it is for lenders and brokers to work in collaboration to ensure self-employed borrowers know that there are products available for them.

Last week saw Saffron announce the most recent changes to its criteria, revealing greater flexibility for the self-employed.

From now, self-employed applicants with two years or more of trading accounts can access Saffron’s full range of products.

This widens opportunities for the self-employed, including self-build and JBSP products.

Saffron also continues to only request one year of accounts to be able to access its specialist self-employed product range.