Self Certification
If your income comes from a number of different sources or if you are self-employed and your accounts are not up to date or they do not go back far enough for a conventional lender to count them, it may be possible to declare your income to a lender without submitting proof of that income. This type of loan usually works best for self employed people. You may need to justify
your need to self certify if you are employed. If you are unsure contact The Mortgage Shop (Worthing) and speak to one of our advisors. It is important to stress, that you should only certify income that you genuinely expect to receive. The income multiplies that lenders require still apply and the lender will maintain the right to either refuse your application or require some evidence of your declared income if there is an abvious discrepancy between your declared occupation and our declared income.
Neverless, this type of product can be very beneficial in some circumstances.
Not all lenders use income multiples to decide the maximum amount that they will lend you. Some use "affordability" calculations which could result in more being offered than under the usual lending rules. Everybody's circumstances are individual which is why it is best to use the service of an qualified broker - like The Mortgage Shop (Worthing).
The overall cost for comparison is 7% APR. The actual rate will depend on your circumstances. APR is variable, and based on a usual case.
Ask for a personalised illustration.
The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers in the UK.
Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.