were fairly straight forward before 2008 when there was a range of mortgage lenders who were offering self certification products, mortgages where no proof of income was required by the lender,however these days there are currently no self cert mortgage available in the UK today so the question remains, what can self employed people do to improve their chances to mortgage or remortgage?
Self employed mortgages can still be done without necessarily having account from an accountant.
Mortgage lenders have adapted to these new times by somewhat relaxing the rules on mortgage criteria, for example, there are mortgage lenders now offering up to 6 times income, also there are other forms of income that can be included in the mortgage application such as tax credits, working family tax credits, non guaranteed bonuses as long as there is a record of bonus or commission be paid previously, child benefit payments etc. If you are self employed and don’t think you can get a mortgage or remortgage it is always worth talking to one of the expert mortgage advisers at MMI Brokers to see if something can be done.
Other mortgage news today is that buy to let is still hot with the Skipton building society releasing a new buy to let product today 4.09% fixed rate with very low fees. Northern Rock who were recently acquired by Virgin Money have got in on the buy to let mortgage act with the release of a new product today, please call one of our expert mortgage advisers today for details.
non standard construction mortgages have been in the news this week, lenders are opening their doors to a lot more types of construction such as concrete, timber frame, once again call mmi brokers advisers for details.