Specialist lender Tandem Bank has increased its highest loan-to-value (LTV) for self-employed clients from 85% to 90%.

The firm’s new enhancements include 90% LTV for purchases including first-time buyers, as well as 90% LTV for debt consolidation, with a maximum £60,000 unsecured debt.

Acceptable deposits include family gifted deposits and equity, Tandem also confirmed.

Tandem launched in 2014 as one of the UK’s original digital challenger banks providing customers with savings and lending products. It is a fully licensed UK bank with a fintech banking platform serving over 270,000 customers.

Director of mortgage division sales and distribution at Tandem, Roger Morris, said the latest move is in line with Tandem’s strategy of support for “underserved” customers and demonstrates the firm’s desire to help self-employed clients.

Morris commented: “Feedback from introducers and our growing experience of self-employed cases has allowed us to improve our offering to this important group, which is still underserved by the mainstream lender market.”

He added: “Flexibility is key and is what drives Tandem’s mission to offer easier ways to save, borrow, spend and share money. As a greener, digital bank Tandem, is also well positioned to help consumers transition to a lower carbon lifestyle.”

Share Story: