For people who find it difficult to provide verification of their income, Self-Certification Mortgages or re-mortgages can present an excellent solution. These types of mortgages require a signed declaration of your income and you must be confident that you can afford to meet the repayments as well as the lenders affordability criteria, however, they will not ask for proof.
Self-certification is particularly suitable for self-employed, company directors, those with second incomes, contractors or freelancers. However, they are available to Pay As You Earn for example commission and bonus paid salaries.
Mortgage companies will normally ask to see accounts over a minimum period of two/three years: a difficult proposition for many, especially those who have recently started trading and people can find themselves excluded from getting the mortgage they want. The solutions we provide are flexible so that those with fluctuating income can cope with repayments.
Independent Mortgage
Services
T. 0114 2509100 F. 0114 2580580 E. enquiries@ims.uk.net
Loans can usually be arranged up to 90% and in some circumstances 95% of the purchase price. People with good or bad credit histories can apply for self-certification mortgages.
The majority of High Street Banks don't provide these types of mortgages and they can only be provided by Specialist Brokers. They also normally have a higher rate of interest than other types of mortgage lenders.
The overall cost for comparison is 8.4%. The actual rate will depend upon your circumstances. Ask for a personalised illustration.
In certain circumstances you may not need to self-cert your income, as there are many alternative main stream mortgages available. For expert advice please email us on info@ims.uk.net or get in touch on 0114 2509100.
Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
We do not normally charge a fee for Mortgage Advice, although depending on your circumstances
we may charge a fee of up to 1.5% of the loan amount. A typical fee is £299.
Independent Mortgage Services is a trading name of Prospect Enterprises (UK) Limited which is an appointed representative of Legal &General Partnership Services Limited which is authorised and regulated by the Financial Services Authority for advising on and arranging mortgages and insurance. Prospect Enterprises (UK) Limited's registered office 786 Chesterfield Road, Sheffield, S8 0SF. Registered in England No. 4865449.