| |
- Self
Employed Help Index
- Site
Map |
| |
|
|
| |
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.
|
|
|
|
 |
Are You Looking For a Self Employed Mortgage in North
Wales?
|
The self employed tend to
have limited options open to them when it comes to
applying for a mortgage. However, self certification
mortgages are one option which is becoming more and more
popular as time goes on.
There are two main types of self certification mortgages
and those are either True self certification or
traditional self certification and basically the true
self option is usually preferred.
What is a True Self Certification Mortgage?
A true self certification mortgage is where no documents
or other proof of income is needed at all. With a
traditional self certification mortgage some questions
are usually asked to prove various factors of your self
employment, but with true self certification, you are
not asked anything. It will all go down to your signed
declaration and that is proof enough for the mortgage
lender. Traditional self certification mortgages
sometimes require your accountant's signature as proof
of your income, whilst other mortgage lenders will need
to see evidence of accounts for at least the past year.
The main thing which puts people off a true self
certification mortgage is that the minimum deposit is
usually higher. Some mortgage lenders charge up to 20%
deposit and the minimum is usually around 10%. Of course
it all depends upon the mortgage lender which you use,
but the higher deposits are the lenders way of letting
you know that it is a high risk to them to lend you the
money as they only have your word that you earn enough
to pay them back.
In order to find a true self certification mortgage it
may be best to go online and fill out a free form on a
comparison website. There are many mortgage comparison
websites available and they will save you both time and
money by producing results in less than five minutes and
sorting them out by the cheapest offers first. Your
situation is taken into account and there is no
obligation for you to accept any offers.
Overall true self certification mortgages are worth
applying for if you have only recently started up in
business. However do keep in mind that the repayments
may be a little higher than an ordinary mortgage.Mortgages
For The Self Employed
|
|
|
|
|
|
