Self Cert Mortgage, Advice

A lender when making up their minds if they can offer you a self cert mortgage or a secured loan are looking for potential risks to their investment. You have to prove to them that you are not likely to end up with mortgage arrears or bad credit. If you are self employed it is harder to prove your right to have credit as you will probably not have a folder full of pay slips and a track record as a worker and wage earner.

They will also be looking in detail at your credit history. If you have had mortgage arrears in the past then you will no doubt have a bad credit rating. This will go against you in any credit application whether for a self cert mortgage or a secured loan. There is no need to despair about this as there are a few options out of this mess but they are considerably more expensive then if you had a normal credit rating.

Your best option is to make sure you have the budget to pay your loans and mortgage before you apply for it. There are many ways that you can do this. You could go out and find an independent financial adviser. They should be able to guide you on what is best for you and how much you can afford to repay each month. You could look around the internet. There are a plethora of internet sites with enticing offers that may or may not suit you. You could shop around yourself on the high street but they do not offer so many options if you are self employed and looking for a self cert mortgage or a secured loan. The chances of you getting mortgage arrears and bad credit are higher and you will need more specialist help.

You could always do the calculations yourself and then look for a suitable provider. Which ever option you choose remember a few golden rules. Be honest, do not price yourself above your expectation of earnings to get a bigger house and keep track on your income and expenditure.

We can not promise you a Mortgage BUT we will listen no matter what your circumstances are.

SOLVING YOUR MORTGAGE PROBLEM SIMPLY

ABBEY FINANCE

0845-4567-847

Just click here to fill out our simple on line Mortgage Enquiry Form, it will only take a few moments.

enquiries@abbeyfinance.biz

Actual rate available depends on circumstances ask for personalised illustration. The overall cost for comparison is 7.9% APR. Our representative fee charged is 1.25% of amount borrowed. APR variable and based on a usual case.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE