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- Self
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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All You Need to Know About the Self Certification Form
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If you are applying for a
self certification mortgage then you will need to fill
out a self certification form. Every self certification
mortgage is different depending upon the lender and
whilst generally most lenders do not require any credit
checks or proof of income, some will still ask for some
identification.
So depending upon the lender, it will determine what you
have to fill in on a self certification form.
General Self Certification Forms
Generally a self certification form usually only asks
you to state how much income you earn roughly, how much
you want to borrow and what the value of the home is.
They may also ask if you are a first time buyer and
whether you have already found a property or not. You
will then have to sign the form to state that everything
is correct and after that it will not take too long to
get a decision back.
Other forms may ask you to provide an accountants
signature as extra proof of your income. Some may state
that they want to run a credit check on you, whilst
other lenders may want you to provide bank statements as
proof of earnings. If you do not have any of this
information and you would prefer that a background check
was not carried out then you should apply for a true
certification mortgage. No questions at all should be
asked with that type of mortgage and it is ideal for the
self employed and for people who cannot prove their
income or who have a poor credit history.
You can get these self certification forms either online
from a mortgage lenders website, or you can request one
over the phone. Generally by going online it will allow
you to fill in the application more quickly, but many
people prefer to actually fill the form in them once it
has arrived through the post. It all depends upon your
personal preference and you will not really need much
with you in order to fill the form in. You may have to
provide proof of identification however but again that
will depend upon the lender.
Overall a self certification form is not overly
difficult to fill in and it should not take you more
than five to ten minutes to complete it. If you apply
for a true certification mortgage then you will have
even less to fill in but the main thing is that you do
have to sign a declaration stating that you can afford
the repayments on the mortgage. You should never lie on
any of the forms as that is classed as a criminal
offence.Self
Employed Mortgages
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