Self Cert Mortgage, Borrowing Astutely

You may be thinking of buying a house but are unsure if you are eligible. Most mortgages are based on the borrowers salary. This can be proved through the production of past pay slips. The standard mortgage can then be set, on average, at three and a half times their salary. If you are self employed then you can apply for a self cert mortgage. However you may think you may be disqualified from credit as you have a bad credit rating from previous mortgage arrears or missed secured loan repayments. Do not despair as there are products out there designed to suit you. However it would be much more financially prudent if you applied for a mortgage with a good credit rating.

There are lenders who specialise in repairing your bad credit rating. It will take at least three years and you will be paying over the odds for it but at the end of it those mortgage arrears or missed secured loan repayments will fade away and you will have built up a solid repayment history. This will enable you to go out and get a standard or a self cert mortgage at a more agreeable rate.

If you want to get a self cert mortgage then the lender needs to be convinced that you are a safe bet. That your prospective earnings will be realised and you will not fall into financial difficulties, get mortgage arrears and a bad credit rating. The way to go about this is to be realistic with your lender about how much you expect as income in the future and how much you are prepared to pay to them each month. Even if you are applying for a secured loan, do make sure you can afford the repayments, otherwise you may find yourself without a home.

Keep a track on your expenditure and incomings. Remember to always leave money for your priority debts that is your mortgage and any secured loans you have taken out. All other debts are not likely to force you to lose your house if you do not pay them.

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