Self Employed Mortgage - Our Most Frequently Asked Questions
Do you charge a fee for your service?
Absolutely not, we will not charge you a single penny for your quotes or any advice given.
If you decide to go ahead with one of our quotes and apply for a self employed mortgage then you may be charged a small set up fee once the mortgage has been arranged but no money will be charged prior to this.
Will I need to have an insurance policy in place to cover my repayments?
This is dependent upon the provider but is not a usual requirement. Should you want to purchase Mortgage Payment Protection then by all means shop around and perhaps use an independent insurance broker who can compare lots of different quotes from many different providers. Please be aware however, that most mppi policies will cover you against the risk of sickness, accident etc but not against unemployment/redundancy if you are self employed.
Will I need to have my accounts audited?
Now days, many mortgage lenders will not require your accounts to be audited when applying for a mortgage. However, you will have to prove some level of income and reassure the lender that you can actually afford to make the re-payments.
What are self cert mortgages?
‘Self certificated mortgages’ are the official market term for a self employed mortgage. Also known as ‘Self Certified Mortgages’ and ‘Mortgage Self Certification’.
Will I pay more for a Self Employed Mortgage?
This is really dependent upon the mortgage lenders but generally you may have to pay slightly more for a self cert mortgage as they pose a greater risk to the mortgage company.
Is a self cert mortgage right for me?
We cannot stress enough how important it is to seek professional advice from an Independent financial advisor or Mortgage broker when purchasing a mortgage.
After filling in our self employed mortgage quote form, you will have access to your very own qualified and FSA regulated advisor and by utilising their skills, they can advise if the product is right for you.
They will compare self employed mortgage deals from the ‘Whole of the Market’ to help find the most suitable products for you and will be able to advise your best plan of action.
This advice is free and you will be under no obligation to purchase any of our products or services.