Many people agree that self-employment can be
an unpredictable and sometimes risky business. One of the most common
difficulties encountered by the self-employed however is that of obtaining
a mortgage. A good credit rating and financial status still may not
be enough to convince a lender to issue a mortgage to a self-employed
individual; the lender will usually demand proof of a regular, sufficient
income as proof that the mortgage will be repaid.
 |
Self Employment Mortgage
quotes online- click
here |
|
|
Before they consider issuing mortgages to self-employed individuals,
mortgage lenders normally require at least 3 years worth of accounts
and financial records, approved by a certified accountant. This is
sometimes just the beginning of the difficulties that a self-employed
individual may encounter when applying for a mortgage or other loan.
There are companies however who specialise in dealing with credit
for the self-employed, and who can often provide mortgages when
there is nowhere else to turn. These specialist companies understand
the unpredictable nature of being self-employed (by recognising
that fact that there are periods of both high and low revenue),
and their mortgages present the self-employed with a more flexible
way to pay their mortgage.
A self-certification mortgage is one of the most common options
provided by mortgage companies who deal with the self-employed.
The application process for such a mortgage avoids the usual detailed
procedure of proving your business earnings via audited accounts
or employers references. The applicant will normally be asked for
a deposit in the region of 10% for such a mortgage
|
Self Employment Mortgage
quotes online- click
here |
|
|
|
