Virgin Money and Clydesdale are bringing in a new form for self-employed applicants which asks borrowers what impact Covid has had on their business.

Where businesses have had to suspend trading during the pandemic, the lenders will want to see evidence that they have resumed activity over the past three months.

As well as the completed form, Virgin and Clydesale continue to require three months’ business bank statements to prove current trading levels. 

The new self-employed supplementary form will be required for all applications submitted from Friday August 7.

The form is not required by workers on a day rate who fall within the lenders’ contractor policy