Clydesdale Bank’s Improved Contractor Policy

We’re delighted to announce our improved self-employed contractor policy, live today!

27th September 2019

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The headlines are:

• We will consider applications from self-employed contractors working in any sector, subject to a minimum calculated income of £50,000 per annum.
• Income is calculated by the current contract × 46 weeks.
• Applicants with more than 1 year contractor experience are acceptable up to 95% LTV, and must have had their contract renewed at least once.
• Contractors with less than 1 year contractor experience are acceptable, providing the LTV is a maximum of 70%.
• All contractors must have a minimum period of 2 years experience (employed or contracting) in same the industry.
• We will accept applications from contractors where there has been a maximum gap of 6 weeks between contracts. If there is more than a 6 week gap, please refer to us prior to application – we may still be able to help.

Maximum LTVs are of course subject to individual product limits and any other lending criteria applicable to the case. Please visit our website for more information on our lending criteria, products, and packaging requirements.

If you have any questions, please contact your Relationship Manager.