Non-Status Remortgage

Looking for a self-cert remortgage deal?

Non status remortgage deals, or self-cert, as they are often referred to, are hard to come by these days as banks are more conservative than they used to be. Click on the link below for remortgage quotes and advice:


Or, for a number of leading remortgage deals that are unlikely to be non status, see the table below:

 

A remortgage is when you switch mortgage for the payment on an existing purchase, for example to decrease your monthly repayments, get a better interest rate, or obtain a more flexible deal. A non-status remortgage (sometimes referred to as a self-certification remortgage) is a special deal whereby you can declare, but not necessarily prove your income. Many mortgage lenders will consider a non-status remortgage to be a greater risk because the income is unproved and so they often charge a higher rate, but it does allow people who would otherwise find it difficult to own property to do so. 

Non status remortgages will generally fall into two categories:

Employed non-status and Self-employed non-status

• Employed non-status: this is where you have additional income with erratic bonuses, commission or overtime pay; Seasonal, casual or contract work.

You need only declare that you have the additional income to be able to afford the repayments. 

• Self-employed non-status: this is how people who are self-employed and have a good record of audited accounts can get a remortgage.  If one of the following applies to you then are likely to be best suited to a non status remortgage: You do not have three full years trading accounts or your present earnings are greater than your accounts can prove

Lenders are now tending to recognize that many people have flexible lifestyles and financial arrangements, so are offering far more in the way of non-status remortgage deals. To get the best deals for your individual circumstances, fill in the enquiry form to compare the market and get free advice.