Kent Reliance relaxes criteria for self-employed

Kent Reliance relaxes criteria for self-employed

Kent Reliance has announced today that it will now consider standard residential mortgage applications from professional self-employed applicants who have been trading for a minimum of 12 months.

Kent Reliance says there are a number of credit-worthy applicants within this group of borrowers who are not supported by mainstream lenders.

Examples of 'professional' applicants considered include doctors, lawyers or accountants or those who hold other professional qualifications.

The criteria will require applicants to have a minimum 12 months previous track record in the same sector as their current business, and a projection for second year income must be provided by an accountant.

The Bank of England’s 2015 Q3 quarterly bulletin recorded 700,000 new self-employed professionals since 2008, taking the total to 4.5 million, or nearly 15% of the UK’s workforce.


Adrian Moloney, Director of Sales, Kent Reliance for Intermediaries, had this to say: “The self-employed are making up an increasing proportion of the modern workforce. Despite the financial success of many within this group, this hasn’t yet been reflected in the mortgage market. We are looking to change this, supporting self-employed professionals, and their brokers looking to place these cases.

We’ve had feedback from brokers that they find these type of loans especially hard to process, so we are widening our criteria to increase our flexibility in this market, which will aid both distributors and their clients. These changes support our commitment to be a specialist, personal and flexible lender for those who are not effectively served by mainstream providers.”

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DmitriKara
DmitriKara 29 Jun 2016

I just read another article about eviction rising and this was exactly what was on my mind, Housing has become "cat and mouse"...

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DmitriKara
DmitriKara 29 Jun 2016

I am really not surprised. I've seen one too many impudent tenants and in my humble opinion renters have one too many privileges and options to abuse heir landlord in so many ways...

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DmitriKara
DmitriKara 29 Jun 2016

There is still so much uncertainty and I will surely step back and see what's happening before I could make any decisions on my end.

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ChristinaReedUK
ChristinaReedUK 20 Jun 2016

I don't understand why it's always a war between the two sides. Either, way the landlord is probably keeping a detailed inventory and will see the changes you've made. I just don't understand why there...

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NathanGreen
NathanGreen 16 Jun 2016

Seeing that the tenants are quite satisfied with their landlords and the properties is indeed great. I wonder, though, what is the situation in London alone? The tenants face sky-high rent levels in the...

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AndiMur
AndiMur 15 Jun 2016

TheGuardian published the same forecast. But on the other hand, professional brokers express different opinions. According totranio.com, an exit from the EU would not affect the demand/supply imbalance...

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Gary Holmes
Gary Holmes 14 Jun 2016

Having a professionally completed inventory at check-in and check-out is clearly (to me at least) of minor value. Tenants make un-authorised modifications and/or walk off with items that belong to the

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Violet Gibson
Violet Gibson 14 Jun 2016

Cautious people think buying off-plan is reckless, but over the past few years investors have literally made fortunes.Pre-release prices have obvious benefits for the developer, who gets instant finance...

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Kate Windleton
Kate Windleton 14 Jun 2016

An interesting research indeed. I guess that is in complete contrast with the United States where people often move from one coast to another. It will be interesting to hear the trends for people moving...

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NathanGreen
NathanGreen 14 Jun 2016

I think it all depends on the market conditions and how well your company is doing. You will agree that you can't demand more when you're killing yourself just to hang in there. Sometimes you need all

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ChristinaReedUK
ChristinaReedUK 13 Jun 2016

What does "detecting a bad vibe" mean actually. I've had certain vibes like these and yet have always found a reason , if there's any, why I don't like a certain property. The property maintenance might...

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keybanks estates
keybanks estates 08 Jun 2016

Great News for first time buyers, about time two!

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