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What Happens If I Have No Proof Of Income?Hot Topics
If you are self-employed and cannot provide any proof of income – you will have to self-certify your income. In most cases you will need to provide an accountant’s certificate as proof of income. However some lenders will allow you just to confirm in writing your occupation and income, saving you the expense of paying an accountant for a set of accounts to qualify the loan. About 14% of the UK population are self-employed and because of this the market has got a lot more competitive. The interest rates will always be more than a standard mortgage however, but if you successfully meet your repayments for a few years then you should have sufficient credit history to switch to a better rate or another lender. Statistics show most businesses fail within the first two years of trading, and this is why self-certification mortgages are perceived as a high risk. 1st Time Buyer - Buy to Let Mortgages - Capped Rate Mortgages - Discount Mortgages - Fixed Rate Mortgages - Flexible Mortgages - ISA Mortgages - Low Setup Cost Mortgages - Self Cert Mortgages - Tracker Mortgages - 100% Mortgages Cashback Mortgages - Adverse Credit - Buy to Let - Commercial Mortgages - Company Directors - Cheap Mortgages - Equity Release - Fixed Rate Mortgages - Income Multiples - Interest Rates Explained - Mortgage Glossary - Mortgages Explained - Previously Declined - Refinance Mortgages - Repaying Mortgages - Right to Buy Mortgages - Self Employed - Unusual Properties - Variable Rate Mortgages |
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