Leeds Building Society has revealed it is working with more intermediaries as it continues to roll out its new mortgage range for professional contractors.
The mutual is reporting rising interest in the new contractor range it began to offer to more broker firms last month.
“National Freelancers Day [today, 19 November] highlights this growing sector’s value to the UK economy as the number of self-employed people continues to rise,” said Martin Richardson, Leeds Building Society’s general manager – business development.
“We introduced our professional contractor mortgages in recognition of this under-served but important market and to offer contractors greater choice and flexibility, for which we received the Innovation Award for lenders at this month’s Mortgage Finance Gazette Awards.”
Leeds Building Society will accept 12 months’ experience, in any sector, and allows for a six week break between each contract, compared to the industry norm of allowing only six weeks in total per year.
The Society’s range includes offset versions of two, three and five year fixed rate mortgages, in recognition of the common practice among contractors to build up savings to tide themselves over between jobs.