Self Certification Remortgages

Over the life time of the modern remortgage industry lenders have taken a cautious view those of who are considered to be self employed. However a number of mainstream and specialist remortgage lenders now provide a remortgage solution for the self employed through self certification remortgages.

What is a Self Certification Remortgage

Self certification remortgages were created for people who were unable to provide proof of a regular income.

Those who receive commission,bonuses, extra overtime, have an additional income or are contract workers are most likely to meet the self cert criteria.

To be eligible for a self certification remortgage, you do not necessarily need to provide audited accounts, a letter from your accountant or correspondence from the Inland Revenue may suffice.

one you have been approved for a self cert remortgage and the funds are cleared, you can also use them consolidate your business loans or personal debts.

Advantages of a Self Certification Remortgage

  • Those who would otherwise be unable to step onto the property ladder due to varying self employed income levels can now purchase a property

Disadvantages of a Self Certification Remortgage

  • Sometimes they can carry slightly higher arrangement fees. So read the small print.

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