Many
of the U.K.’s working population derive their
income from varying sources:
- Self-employed
- Commission
based salesmen/women
- Rental
income
- Company
directors with dividend income
- Investment
income
In
many circumstances this income can be significant.
Although
a specialist area, mortgage lenders are now accustomed
to clients who fall into this category. A prospective
applicant will self declare their total income
on the application form and sign an affordability
statement.
The
mortgage providers view these transactions as
slightly more risky. They will restrict the maximum
loan available depending upon their credit assessment
and credit score.
High
Street lenders including the Halifax, Bank of
Scotland and Abbey offer finance within this area.
Self Certification - TheThe overall cost for comparison is 6.5% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.
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