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This type of mortgage facility is ideal for
the self employed or indeed the employed person with more than
one income.
If you have a substantial deposit and
fall into the categories mentioned above , some lenders will
consider your loan without having to confirm your income.
Rather than request proof of income lenders will fast track your
application allowing you to submit your proposal without wage
slips/accounts or bank statements. You will need to declare your
income for the year and this information will be used to arrive at
the total amount you are able to borrow.
The
income figure you provide must be accurate as the lender always
reserves the right to request proof of income at any time should
they feel it necessary.
Your
mortgage will be subject to status and relies on the outcome of a
credit score. It should also be noted that the interpretation of a
self-cert mortgage can vary from lender to lender. |
