Mainly for people whose income is difficult to assess using the standard method adopted by most conventional mortgage lenders. Bonuses commission and seasonal work can cause income to vary over time or be difficult to guarantee and this may not be considered acceptable in order to get a loan.
Many high street mortgage lenders take a cautious view of the self employed or other people who have difficulty proving their income such as unsalaried company directors and contract workers.
If you have difficulty proving your income, are unable to provide two or three years’ accounts or your accounts do not really reflect your current company position then a non status mortgage (also know as self certification mortgages) may be the way forward.
Non status mortgages are offered by UK mortgage lenders without the need to provide proof of income or previous mortgage history. You simply have to make a declaration that you can afford to meet the monthly payment on the amount you wish to borrow.
Many of the non status mortgage lenders only accept business through mortgage brokers and many of the non status mortgage deals are not available in the high street.
Simply complete the online enquiry form to receive a free no obligation quote. A specialist mortgage broker will get back to you with the best deals available.