Self Cert
Self Cert | Can You Actually Afford A Bigger And Or Better Home?
Earn more than you declare?
It's not uncommon for people to declare less than they actually earn - there are perfectly legal ways and means to do this, and it's great for tax benefits. But it doesn't lend itself to getting a mortgage. So you might only have been able to get a small loan in the past but have plenty of income to cover a bigger deal - if that's the case then look towards self cert. If you are confident your revenues are higher than you have previously admitted then a self cert mortgage could be the key to a bigger loan and a better home. If you have a decent income and have no outstanding debt problems, your credit score will be good and therefore you should be able to get a better mortgage with a self cert lender.
Business growing?
Although there are reports of a floundering housing market, the British economy as a whole is still boisterous. As a result, business is growing in the UK. Maybe yours is one of those lucky businesses that are expanding and as a result you want to expand yourself. With a self cert deal you can be confident that the business potential will pay dividends now - there is no proof of income with self cert, so business potential is as good as money in the bank.
Plan to take on extra work?
If you able to take on more work and add extra income each month, maybe it's time for a self cert mortgage. Those who work several jobs, who work in evenings or even do business on a commission basis, have the potential to earn more when times are good. So if you do find yourself in a position where you could be earning more each month, take advantage of this and take out a self cert deal. You don't need to prove how much more you will earn -you just need to be confident of your own abilities.
Bonuses or contracts in the pipelines?
Many Brits are lucky enough to be awarded bonuses from time to time. It's great to see your hard work pay off, but it's even better to take advantage of that hard work with a self cert mortgage. If you are going to be earning more through contracts or bonuses then talk to an adviser to seewhat self cert mortgage could most benefit you.
The bigger the bonuses, or the more contracts you are confident of securing, the bigger mortgage you could be approved for. Self cert allows your fruits of your hard work to work hard for you.
Get ready to borrow more
If you are in a position to borrow a bigger mortgage that's great, but don't forget to get ready for the approval. A self cert mortgage is still a mortgage, and still needs to be paid every month. Put a plan together outlining your realistic targets and your potential goals - somewhere in the middle of that you should find a figure that will allow you to apply for a bigger self cert mortgage and allow you to start looking for that dream home.
