Self Cert Borrower – How Much Do You Think You Earn?

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It's a simple question, how much do you earn? If you are not entirely sure, or are simply unable to put a figure on your monthly or yearly income then you need some specialist help if you are ever going to get a mortgage loan.

Millions of British people do not think the question 'how much do you earn?' is an easy one to answer – many rely on bonuses as a staple of their income so could only give you a rough estimate as to how much they earn. They might be a freelancer and live from one job to the next, so that question is completely reliant on their industry and their abilities to find work.

They might be someone who works more than one job at different times during the year, maybe they are someone who works purely on commission and earns as much as they can sell.

All these people will be forced to self-certify their earnings should they want to get hold of a loan. A lender likes to know how much money someone makes so as to be able to assess whether they can handle a large loan. If you do not know, a lender is not going to offer you credit.

That's why you need to go through a professional. They can help you draw up an income plan, which would help you get an idea of what you could earn on a bad month or during a good month. They can help you come to a comfortable affordability figure which you would be happy to pay each month for a mortgage regardless of your maximum earning potential. Then, if the lender is also happy you may get the mortgage you need.

So if you do not think the question is an easy one, talk to a self certifying specialist. There are millions of people who needlessly worry that they might not be able to get the right mortgage simply because they do not go through a specialist. Don't be one of those who do not use their earning potential when it comes to getting a mortgage.

Keep up with the latest news and comments on Self Employed Mortgages at the Self Cert Mortgage Blog