Self Cert Fixed Remortgage
Is A Self Cert Fixed Remortgage The Best Option Right Now?
To say one mortgage is better than another is foolhardy without first considering the borrower. The same goes for self cert fixed remortgage deals - to say it is the best choice for every self cert borrower cannot be done. Mortgages need to fit round the borrower, not vice versa, so only you can have the final decision whether to go for a variable, offset, flexible or self cert fixed remortgage.
Right now people want to be sure of things, especially those who do not earn in a traditional way. The self employed, those with more than one job or even those who rely on bonuses will all be sweating as a recession looms and belts tighten. So a self cert fixed remortgage would be the most sensible option - you know what you need to do each month to meet the same, regular payments. The economy could swing up or down and rates could soar, but with a self cert fixed remortgage you know where you stand.
And that's great - but what if you do not know where you stand from one month to the next as a self cert earner? Maybe your earnings are based on performance, on hard-earned bonuses or even on something as arbitrary as the weather. In these cases self cert fixed remortgage deals may not be the best bet - you need to be sure of a definite amount every month, come rain or shine. And if you cannot do that then a self cert fixed remortgage will be a burden round your neck and a sure fire way to financial ruin.
If you think a self cert fixed remortgage will not fit your sporadic earnings there are other options - flexible self cert mortgages that will allow overpayments, underpayments and even payment holidays. These are perfect for those who cannot put a number on their wage, but are sure they can afford a mortgage somehow. But then again you may crave something solid and safe amidst an ever-changing world, then self cert fixed remortgage products could be the answer.
Whatever you decide, do not sign on any self cert fixed remortgage contracts until you talk to a mortgage broker. A broker can give you an impartial, honest decision to as which deal, be that a self cert fixed remortgage or anything else, is best for you. So talk to a broker and remember - there are no best mortgages, only right mortgages for you.
