Self Certified Mortgages and Remortgages
Getting a mortgage or a remortgage has always been challenging if you are self employed because it is not always straightforward in proving your income.
In the past it has been possible to secure a mortgage by self certifying your earnings which allowed you to declare your income without the need for formal accounts.
These solutions though very often came at a price in that you would very often pay higher rates & set up costs.
As a result of the ‘credit crunch’ though and the failure of some Banks, lending practices came under a lot of scrutiny paticularly around proving income. As a result the regulator has now effectively banned self certified mortgages & these are no longer available.
Mortgage Lenders have tried to be find alternative ways to provide finance to the self employed and whilst you will have to have been self employed for at least a year, some Lenders will accept one years account history.
Lenders continue to battle with their desire to lend to the self employed, but need to do so in amore innovative way, and without self certifying.
We understand the self employed and will endeavour to find you the best available solution. If this proves to be not possible now, we will explain what you will need to do to ensure this changes.
We know which Lenders will suit you best, not all of which are on the High Street.
To see how we can help just complete our simple enquiry form and leave the rest to us.