Find the Best Buy Self Cert Mortgage Deal Alternatives
If you are searching for the best buys on self cert mortgages, you may wish to compare mortgage deals from as many providers as possible before making your decision.
If you are self employed and looking for a mortgage, you will need to prove your income and demonstrate to your lender that you will be able to make your monthly repayments. Self cert mortgages were ideal for people who were self employed because self employed people have irregular streams of income and often rely on commission. Unlike many other types of mortgage agreement, these deals essentially allowed customers to take out a mortgage easily, even if they may have difficulty proving a steady source of income.
Instead of looking for the best buy on a self cert mortgage, there are several other types of mortgage deals that may be well worth considering. If you are searching for an alternative mortgage deal, you may also need to consider which method of repayment is best for you. The options are:
- Repayment – monthly payments that are designed to enable you to repay your loan within the interest rate term set by your lender.
- Interest Only – monthly payments consisting of the interest owed each month and separate payments into an Individual Savings Account (ISA) to repay your mortgage loan at the end of the set term.
After these two methods have been considered, there are a variety of interest rate deals to choose from. The following are some examples:
- Tracker mortgages
- Fixed rate mortgages
- Offset mortgages
- Cashback Mortgages