Need to self cert your remortgage?

If you are self employed, a contractor, or earn irregular income, you may need to self certify to obtain your remortgage. Non Status cases are offered less freely by lenders than they were in the past. This is because there is a great deal of uncertainty in the housing market, causing lenders to refuse more applications that they consider a risk. By its nature self employment tends to be a more insecure income stream as many businesses fail, and as the economy fall supon harder times the percentage of businesses failing increases further.

There are less lenders offering self cert remortgages thatn in the past. However, if you are able to choose the right lender, and submit a thorough and correct application you increase your chances of an underwriter signing off the application.

A mortgage broker can elp with the application rocess by providing expert knowledge of lenders and the application process and so ensuring maximum chance of success. If lenders are still not confident enough to lend you may stll be turned down, but ensure you give yourself te best chance possible.