Self Cert Mortgage, Applying

Trying to get a mortgage when you are self employed can be very difficult. Lenders are looking for solid wage earners with a well known employer, in a large business with a history of wage slips as proof of their financial standing. If you are self employed it can be difficult to prove how credit worthy you are. Lenders may be afraid you may get into mortgage arrears or end up getting bad credit. However there are self cert mortgages and secured loans available for the self employed if you meet different criteria.

To take out a self cert mortgage or secured loan you need to prove you are credit worthy. To the self employed this means convincing the potential lender that you will earn enough to pay your mortgage or repayment without falling into mortgage arrears or bad credit. That you will regularly pay up and they do not have to worry about any associated risks.

Specialist mortgage lenders are out there who cater for this particular market. You may be asked for company accounts or for an accountant to verify your future projections and figures. You may in the first place want to seek out an independent financial adviser. They can help you make the best choice in lender and type of finance you want.

To pay for a self cert mortgage or secured loan you must be sure you are financially solid. It is best if you have at least three years of spread sheets to show the lender. You can use this as proof of your ability to pay. They are wary of anyone who has a higher risk of getting bad credit or mortgage arrears. You need to convince them that you are a sure bet.

If you do manage to convince the lender to give you the mortgage then it is up to you to make sure you can pay it off each and every month. Try to negotiate in a payment holiday or possibility of changing the amount you pay if you have a hard month. Or you could build up your savings to catch any shortfall.

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.

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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