Self Cert Mortgages, Changing Lenders

If you are self employed or have an indeterminate but financially good standing then you may be eligible to apply for a self cert mortgage. This is especially tailored to those individuals that can not prove that they have a good wage history and earn enough to be awarded a mortgage. This would apply to such people as sole traders or others who work for themselves, freelancers and consultants who only work on a temporary basis.

If you do not have bad credit or mortgage arrears you could even apply for a secured loan. There are financial products out there suitable for everybody in almost any circumstance. There are even secured loans available to those who do have mortgage arrears or bad credit, but they do come at a high price and are hard to get. A self cert mortgage relies on the potential borrower convincing the lender that their income in the future will be sufficient to be able to make regular payments towards a mortgage. Because of the higher risk involved by the fact that small businesses are more likely to go under and that speculative incomes may not come true in the future, there is a higher associated cost with a self cert mortgage or secured loan for the self employed.

Any one can fall into bad credit and end up with mortgage arrears but a lender will be looking at the statistical likelihood of you doing so. If your occupation or type of income is more uncertain then an average worker and wage earner then the lender will try to cover themselves accordingly. This will appear as a higher charge and interest for the services given. However, if you keep up the repayments and remain a regular contributor to all your debts you may be able to increase your credit rating to a level that would put you on a par with a regular wage earner. At this point you may want to and apply for a standard mortgage or loan which will charge you less each month for the privilege. Changing lenders is a good financial choice.

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