Be aware that some self certification mortgages UK lenders will pay some brokers to be recommended; so it is better to make sure that you are using an independent one to get you the most convenient one available in the market.
Self certification mortgages UK - UK interest rates are current at a 35-year low. Lenders are discounting their rates and offering special deals.
A self certification mortgage is available to the self employed, employed, first time buyers and those with a bad credit history.
If you are self-employed, you may simply not be able to prove your income; you've no formal or recent accounts or accounts prepared by a pro. A slightly larger deposit is required to reduce the perceived risk from a lender's perspective. You may also be a self-employed, or employed person, who has some buy-to-let or investment properties.
Do you fit in any of the following categories? Then self-certification mortgages UK may be for you:
- Short-term or part-time employees;
- Employees on a bonuses or commission system;
- City of London workers or others who get a large bonus annually;
- lender directors who are unsalaried;
- The low-salaried with other material assets
Self certification mortgages UK lender are constantly trying to get the biggest market share. Only so many self certification mortgages UK are taken out in the UK each day. When a lender starts to lose its market share it approaches independent consultants with better interest rates, looking for new business.
Whether you are buying a new property or changing lenders for re-mortgaging, you need to be sure you can afford the repayments. Lenders consider a number of things working out how much you can borrow, like your income and employment status, the property value, the outgoings and your credit history, although different mortgage lenders use different rules.
If you are looking for self certification mortgages UK there are products that are worth your while. However, you will need to do some research in order to find the bank or lending lender with the most favorable interest rates, benefits and terms and conditions.
Ask about self certification mortgages UK today!
If your credit is still not good enough, talk to family and friends and see if you can find someone with a good credit rating to cosign your self certification mortgages UK with you. Warn them of the risks of so-doing; they will be liable if you fail to keep up the payments.
Something to look out for in any self certification mortgages UK web site how old the site is. Is it a johnny-come-lately, or has it been around for years? Another thing is whether it has a physical address: P. O. Boxes or 'Suites' don't count. Are they regulated by the Financial Services Authority?
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