Self Certified Mortgages
At Natural Mortgage Solutions we understand that as a self employed person, or someone who has income from various sources you may have problems proving some or all of your income. You may not have accounts, may have second jobs, irregular income or non-guaranteed bonuses and commissions.
Your consultant will help and advise you about all your options and find the right lender and product for your individual circumstances from looking at the whole of the mortgage market for you.
What size of deposit or equity do I require?
As a general rule you will require 10-15% of the value of the property you are purchasing or remortgaging. There are some lenders who require only a 5% deposit.
What checks are made on my income?
In most cases no checks on your income are made at all. some lenders will want to write to your accountant to verify you are trading as self employed or to your employer to verify you are employed. Generally the whole underwriting of your mortgage should trigger no income checks at all.
Will I pay a higher interest rate?
Due to the higher risk associate with lending on a self certification basis it is usual that you will pay a higher interest rate than standard income verified mortgages from high street lenders. Natural Mortgage Solutions has access to exclusive products not available on the high street that could potentially offer you similar interest rates to those of a high street lender.
The overall cost for comparison is 7.86% APR, that actual rate available will depend on your circumstances. Ask for a personalised illustration.
ONLINE TRACKING
We will keep you regularly updated and provide you with our ONLINE TRACKING service so that you can monitor the progress of your application 24hrs a day.
YOUR RATE REMINDER
Once your mortgage is up and running we will then provide you with a rate reminder service. This will ensure that when your special rate ends you will know all your options and the best available mortgage rates, to stop you paying lenders standard variable rate. By making the most appropriate choices could save you tens of thousands of pounds over time!
