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What to do ?
If you are thinking of becoming self employed and still
don't know what to do then we suggest you stick with something
you already know about. Something you have previously
done as a hobby such as canoeing, motor biking, child care
etc. This ensures you're enthusiasm is high and you will find
the business interesting.
© 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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Remortgage and Self Employment ?
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It is thought that there are around two million people who are self employed within the UK and most find that they have problems getting both a mortgage and a remortgage deal. One reason for this is because many accountants give advice to minimise tax but that in turn can help to ruin your chances of getting a mortgage and a remortgage too. So what are your options if you are self employed and you want to remortgage your home?
Self Employment Options
The main self employment option is a self cert option. That is where you declare that you can afford the repayments on a remortgage. You cannot say that you can afford it when you cannot however; as that would still be classed as a criminal offence and you could end up in court. So although you do not have to provide documents to prove your income, you can still get into a lot of trouble if you lie.
The main worry that people have with these remortgage options is whether they will be a lot more expensive than any other remortgage option and the answer is not always. Whilst some companies may take advantage of the slight risk involved, other companies will not increase their interest rates just because you are self employed. So look around and find the best option for you.
Reasons Why You May Want to Remortgage Your Home
There are many reasons why the self employed may want to remortgage their homes and some of those reasons include:
· To go on a holiday of a lifetime
· To pay for a wedding
· For home improvements
· To buy a new car
You could do so much for with the money and basically it is completely up to you what you want to spend the money on. Usually mortgage lenders will not ask you why you want to remortgage your home as they respect that it is your money and you can do what you like with it.
Some companies offer better deals than others so you may want to remortgage your home with a different lender for a better deal. Whatever your reasons you are sure to find a company to suit you but remember that you should look out for self cert or similar remortgage offers to suit your needs.
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