I'm Self Employed, Can I Get a Mortgage? [mortgage-answer.blogspot.com]
With 10-year expected inflation around 2.1%, can a 1.4% real interest rate be deterring many prospective home buyers? No, they are shut out of the market by the unavailability of credit. Posted rates are low, but try getting a mortgage. The third ... How Bernanke Can Get Banks Lending Again
You can not believe it, but even in these days the credit crunch, finding a mortgage if you happen to be independent is not as difficult as it used to be. Previously, a lender wants to see a regular income backed by employment. Today, while there are lenders offering mortgages for self employed, this is probably true that most lenders today face self employed persons. To find out, I recommend you find an independent mortgage adviser.
As I already mentioned, lenders are cautious creatures in particular at the moment and do not always appreciate the ins and outs of different types of businesses. But gradually things change, so do your homework and shop around, or get your mortgage broker to shop around. It used to be the case if you're self and you needed a mortgage, the lender would need proof of your income, you must show three years audited accounts or if you have not been in business long enough, the lender would accept a letter from your account ant. If you are unable to show these three years of accounts, you may've had to pay a larger deposit, or go the way self-certification. SELF Mortgages provide a solution for people who can not guarantee or otherwise clear proof of their total income. Often associated with self employment, self certification mortgages are actually available for people from all walks of life, whatever their employment status.Mortgage Self-certification is just as a "normal" mortgage, except that proof of income is needed is cheaper. What is needed instead is a signed statement of your income and your ability to pay the mortgage.
Going in this direction but, please remember that your home may be repossessed if you can not keep up repayments on ANY LOAN SECURED AGAINST IT. Standard things, it may be, but you do not want to go into this with your eyes closed. Defaulting on a mortgage payment should not be recommended. Related I'm Self Employed, Can I Get a Mortgage? Issues
