Central Trust has made a number of changes to its criteria, aimed at opening up further lending to contractors and potential borrowers with credit blips.

The first- and second-charge lender is now allowing residential clients who have missed up to four secured arrears in the last 12 months, but are up-to-date on the last six months, to borrow at up to 70% LTV.

Additionally, contractor income is now assessed using a day rate and 48 weeks. A years’ worth of continuous work with the existing contract renewed at least once with two months remaining will be required.

The lender is also now accepting 50% of non-court order maintenance as acceptable income.

One further change is the addition of a new ‘Status 2’ plan to the lender’s consumer buy-to-let range, which offers first- and second-charge mortgages at up to 70% LTV.

Central Trust commercial operations director Maeve Ward says: “These improvements to our overall lending proposition are the first in a number of enhancements that we will be unveiling over the coming weeks.

“Our new and enhanced Status plans, together with positive changes to criteria, show how Central Trust caters for a wide range of borrowers and their diverse requirements.