Fixed Rate Self Cert Mortgages
If you are looking to take out a fixed rate mortgage deal but are unable to prove that you have a regular income, you may be finding it difficult to find a lender who will offer you a competitive mortgage deal.
In the past, you could benefit from a fixed rate self cert mortgages if you:
- Work for yourself
- Work as a freelancer or contractor
- Are paid via bonuses or commission
- Receive your income from more than one source
Our self cert service could help you to find a mortgage that suits your needs, all you need to do is fill out our simple enquiry form, and you can get free no obligation quotes and advice about the latest fixed rate mortgage deals – just click on the link.
You may be interested in a fixed rate self cert mortgage, which could be helpful for anyone in the following circumstances:
- Self employed
- Working as a contractor
- Working more than one job
- Temporary/seasonal workers
- Those who earn a low basic salary and rely on commission.
When applying for fixed rate self cert mortgages, most customers would find it relatively easy to provide proof of their income, something that can be far more difficult for the self employed. In the past, self cert mortgages were widely used a way of getting around this issues, however due to changes from the Financial Conduct Authority (FCA), these mortgages are no longer as widely available.
If you are searching for a fixed rate self cert mortgage or for a suitable alternative, feel free to consult the mortgage comparisons table above:
Fixed rate self cert mortgage deals can potentially have the following advantages and disadvantages:
- Monthly repayments will be of a certain fixed amount for the set period
- Your repayments will be protected against potentially increasing interest rates
- Allows you to work out your long term budget
- Lenders may offer incentives with their fixed rate mortgages
- Fixed rate mortgages can sometimes be initially more expensive than tracker mortgages that follow the Bank of England base rate
- If interest rates fall, the payments for a fixed rate mortgage could be significantly higher than that of a tracker mortgage
- You may be subject to early repayment charges if you wish to pay off your loan prematurely.
Require mortgage advice? You can call our mortgage team on: 0117 332 6063
Monday to Friday 8.30am to 7pm