Best Self Cert Mortgage
The Best Self Cert Mortgage - Easily Sort The Good From The Bad
Anyone that is unable to verify their income could consider a self cert mortgage. You may own your own business, have a second job or derive part of your income from commission and bonuses. Perhaps you top up your earning with an investment, or work for a temping agency. Whatever your circumstances, there could be a best self cert mortgage out there for you. But how can you find it? Well, there are several factors to consider, so seeking specialist advice is a good place to start when looking for the best self cert mortgage.
First of all, you and your mortgage broker need to consider what the best self cert mortgage is for you. A self cert mortgage is designed for people who can't prove their income. But the best self cert mortgage for you will depend on your exact circumstances - you may be employed but unable to prove your income, self employed, a first-time buyer or even have a bad credit history.
Different mortgage lenders offer different interest rates and criteria - and these might vary over time. So when looking for the best self cert mortgage, it's important to match your circumstances to the loan provider's criteria. Some lenders may not ask for proof of income, even to get the best self cert mortgage. They will just expect you to state your income and they will take this figure on trust. But some may expect to see documentation such as payslips, P60, audited accounts or bank statements. Some might also contact your accountant or employer.
If you are self-employed then the length of time you've worked for yourself might be taken into consideration. And, the amount of money you are able to put down as a deposit will also influence which product is the best self cert mortgage for you.
Like all other mortgages in the UK, the choice of self cert products has been hit hard. You need to prepare your finances and be the best candidate you can possibly be for the best self cert mortgage. To do that you need to talk a mortgage advisor when looking for the best self cert mortgage.
* Source: According to the Office of National Statistics - September to November 2008
