Non Status Mortgage Lender
Non Status Mortgage Lender – Business Owners Catered For
If you can't prove your income then sometimes it may feel like you've been cast in a different mould. That's because most mortgage lenders demand to see payslips and other proof of income before granting a loan. But a non status mortgage lender marches to a different drummer. So even if you can't produce payslips or prove your income then you might find a non status mortgage lender is the answer to getting on to the property ladder.
People are like chalk and cheese - they don't all fit nicely into strict categories. But it's taken a while for some lenders to catch on. They prefer borrowers that have straightforward circumstances. So thank goodness for the existence of the non status mortgage lender. This type of financial institution accepts that it's different strokes for different people. They will provide loans to people who can't prove their income - for example, the self employed.
People who own their own business or don't work for one organisation (such as freelance writers, taxi drivers and consultants) may find it a struggle to be able to produce documents that prove their income. A non status mortgage lender might be their only chance to borrow enough money to buy their own home.
But it's not just the self employed that could benefit from taking a loan from a non status mortgage lender. People who have more than one job, or are partly paid through bonuses and commission, may find some lenders won't accept their additional income streams. But a non status mortgage lender will consider people from many different circumstances without charging a penal rate of interest. They simply assess whether you can afford the loan and carry out credit and ID checks.
So, what should you look for when choosing a non status mortgage lender? The answer is the same as you would a regular lender - they must be competitive and be able to offer you a loan that suits your needs. Just like a bank, a non status mortgage lender will offer self cert borrowers a range of different options. You can pick between fixed interest loans, those that track the Bank of England's base rate, and those that are discounted. A non status mortgage lender will often offer products with a higher rate of interest and a lower application fee, or vice versa, giving borrowers more flexibility to pick the loan that best suits their needs.
A non status mortgage lender can help you get over the hurdles associated with buying a house when proof of income isn't available. Without them, many people would be unable to afford a property. But just because your circumstances don't fit the mould, doesn't mean you should be denied to right to own a home. Everyone is different and thankfully today in the UK we celebrate diversity. That's why a non status mortgage lender will not reject you because your employment circumstances are different or difficult to assess. So whether you are a taxi driver or a high flying entrepreneur don't give up the dream of home ownership just yet.
