The different
type of Self Employed Loans
The income from a self-employed
applicant can be assessed in two ways: Self Certification in which you
declare your earnings or Certified that are based on 3 years
accounts.
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Self certification
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Certified Accounts
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Self Certification
- you
self declare what you earn and the lender will not insist on seeing audited
accounts.
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This is how a self-certification loan
should work, but there are still some
lenders who will need you to prove your income in other ways, such as an
accountant's certificate. This is a document signed by your accountant to
say that your self employed income is sufficient to service the loan requested.
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Most lenders will supplement this information with credit searches
or credit
scoring.
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Self-certification has limits - most lenders will only allow you to prove
your income in this way if you want to borrow less than 75% loan to
value,
so you will need to put down a substantial deposit. However, some lenders may
allow you borrow up to 85% on a self-certification basis. |
Certified Accounts
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Certified Accounts are produced by your Accountant and will detail your income on a yearly basis. |
Self Employed Loans
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We have arrangements with a large number of high street banks and major lending institutions that cater for self-employed professionals.
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We can arrange loans and mortgages
for self employed people who are homeowners or tenants for sums ranging from
£3,000 to £250,000
and for almost
any purpose.
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Even if you have a poor credit history we
may still be often to help arrange finance. |
We look forward to assisting you in your financing needs.
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