Self Cert Mortgage, Finance

Being self employed means that you are more of a financial risk for lenders then a regular wage earner. You may find this bars you from taking out a standard mortgage which will stop you getting a secured loan. However, there is a specialist type you may apply for. This is the self cert mortgage. This depends on your own predicted earnings for next year.

The lender will be looking at your credit history so it is important that you have not fallen into mortgage arrears or have been awarded a bad credit rating in the past, otherwise you will find it very hard indeed to get approved for a self cert mortgage.

Once you have your mortgage ensure you keep up the payments to prevent yourself getting a bad credit rating. Make your payments regularly on time and do not ever get into mortgage arrears. In this way you can apply for a secured loan. This is a loan secured by an asset, usually your house, against default of repayment. You can use this loan for anything you need a large sum of capital for. Perhaps it could be used for a dream holiday or a car, or even consolidating your debts into one easy repayment scheme.

Secured loans and self cert mortgages are counted as priority debts. This means that you must pay them off before anything else comes under consideration. If you find yourself short of money one month do your utmost to pay these debts first. All others, even if they accrue higher interest should be paid after these have been repaid.

If you do not keep up the repayments and fall into mortgage arrears, your house will be forfeit. The threat of losing your home is usually incentive enough for keeping up with the repayments. Do not let yourself fall behind on repayments otherwise you will get a bad credit rating and will not find it so easy the next time you want to apply for credit. Keep a check on your expenditure and you should be able to keep up your payments and have good credit.

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