Bad Credit Self Cert Mortgages and Self Certification Adverse Mortgages
Bad credit self cert mortgages for the UK’s self employed individuals or people with no proof of income has increased in popularity at the same time as lenders have pulled thousands of products due to the ‘credit crunch’
As it’s been widely reported that around 14% of UK citizens are self employed, you can imagine the devastating effect the financial liquidity issue has impacted their ability to find an appropriate product especially if they have a bad credit history.
However, it should be remembered that in addition to the self employed anyone with a variable income and adverse credit, such as those on a seasonal short term contracts could also be in need of bad credit self cert mortgages.
The likelihood is that you would have to pay a higher interest rate, as there is a perceived greater risk for the lender. Given time however (usually around three years of making regular payments), you may be able to change to a more affordable product.
To talk to the experts give the Bad Credit Mortgage Centre a call today…
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