Saffron for Intermediaries has brought out two new high-LTV products specifically for borrowers who are self-employed or deal in contracting work.

Available at up to 85% LTV, and for either purchase or remortgage, the products take the form of two-year fixes at 4.17% for the self-employed and 4.07% for contractors.

The self-employed will need to provide one to two years of accounts and borrowers with three or more years will be able to apply for a standard owner-occupier mortgage.

Saffron head of mortgage sales Tony Hall says: “Our commitment to those who are self-employed has always been something we are very proud of and will continue… I am over the moon that we can now take another step to help with our two new 85% LTV products which are available from today.”

“We take the time to look at each application on an individual basis. The individual may have taken a grant as a buffer or safety blanket but not spent it. They may have had a few months of reduced trading but bounced back or diversified and are now on course to do better than projected.

“To understand the individual case, we may need a bit more information than before.

“Still, our underwriters will have a snapshot of where they are now and where the finances are heading thanks to taking that little extra time and may be able to offer them the mortgage they so desperately want.”