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Employed Help Index
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But-To-Let
As A Retirement Plan ! Many people nowadays rent out a
second property as a way of saving for retirement. When a
person needs to they will either sell the property for a lump
sum or use the rent as a top up to their pension. Many
mortgage finance companies now offer specialist interest only
buy to let packages that make entering the property market
easier than ever.
© Copyright 2007 www.Self Employed Help .co.uk ~ All Rights Reserved.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
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IVA Self Certification Mortgage: The Ideal Solution for Those in Debt
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If you are struggling
financially then you may be worried that you will never
be able to afford a home of your own. After all, how
could you possibly get a mortgage whilst you are
struggling so much with your finances? Also if you are
self employed it could add an extra worry as even with
an excellent credit record, you would still find it
difficult to get a mortgage through lack of proof of
income.
Luckily there is help available if you are struggling
with your finances and one of the options available to
you is an IVA self certification mortgage.
IVA Self Certification Mortgages
An IVA self certification mortgage is designed to help
you to get a mortgage even if you have been through or
are currently going through an IVA procedure. The
mortgage lenders who deal with these types of mortgages
understand your difficulties and frustrations and they
are simply there to help.
Basically the amount of interest that you will have to
pay will mainly depend upon your current circumstances.
How long ago did you have an IVA or are you still going
through one? Do you have much of a deposit? If you do
then getting an IVA mortgage should not be a problem but
if you do not have any money then it may well cause some
trouble for you.
However with IVA self certification mortgages you may
not have as many problems due to the fact that you do
not have to provide documents proving your income.
However, you should be truthful with the company as if
you are currently struggling financially; it is unlikely
that you will be able to afford a mortgage. However, if
you have recently been through an IVA and things are ok
now, it will be easier for you to afford the repayments
and therefore an IVA self certification mortgage may be
ideal for you.
Overall just be honest with the mortgage lender and when
you sign the declaration that you can afford to pay back
the monthly repayments, make sure that you can
comfortably afford it. The only downside with an IVA
mortgage is that the interest rates are likely to be a
lot higher than usual so keep this in mind when working
out the repayments.Mortgages
For The Self Employed
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