Non Status Remortgages

A non-status remortgage, also referred to as a self-cert remortgage, could be useful to those who are unable to prove their regular income when applying for a remortgage.

 

Non-status remortgages tend to allow applicants to declare the amount that they earn without necessarily providing the lender with proof. These mortgages can be particularly beneficial for someone whose income is relatively inconsistent or difficult to prove.

 

However, it must be noted that, as a result of tightened regulations from the Financial Services Authority (FSA), non-status remortgages tend to be much less frequently available than they previously were.

 

The following mortgage comparison tables may still be able to help you in your search for a suitable remortgage deal:

Current Mortgage Deals
Initial RateProviderPeriod ToTypeAPR*LTV 
1.90% ING DirectOct 2019Discounted Variable 3.40% 70% More >
1.98% Skipton BSAug 2019Variable 4.70% 60% More >
1.99% first directAug 2019Variable 3.60% 65% More >
1.99% Royal Bank of ScotlandSep 2019Variable 3.80% 50% More >
1.99% The Mortgage WorksOct 2019Variable 4.60% 70% More >
*APR - Overall Cost for Comparison
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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Latest Mortgage Deals Selection

Provider

Type

Initial Interest Rate

Initial Term

Max LTV*Product Fee 
Fixed

2.49%

Reverts to 4.70%

5

Years

75%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.00% APRC. This is the cost of the mortgage over the full term.
Fixed

2.69%

Reverts to 4.70%

5

Years

80%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.10% APRC. This is the cost of the mortgage over the full term.

*LTV = Loan to value (how much mortgage you have or require in relation to the value of your property).

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The above mortgage products are a selection of top deals available directly through lenders who will be able to provide further information about the product you are interested in. If you are unsure about what mortgage product is suitable for you, we suggest you contact our independent mortgage broker team at - independent mortgage broker or call on 0117 332 6063

Here are some things that you might like to consider when looking for a non-status remortgage deal:

  • You may be required to produce a higher deposit
    Non-status remortgage borrowers tend to be seen as more of a risk to lenders than mainstream borrowers, therefore you could expect to be able to be offered mortgages with a lower loan to value (LTV) than average.
  • Interest rates could be significantly higher
    Again, as non-status borrowers could pose more of a risk to lenders than normal, you may have to pay higher interest rates on a remortgage.
  • There are likely to be remortgage fees to pay
    Non-status remortgages, like standard remortgages, tend to carry a number of costs – these could include arrangement fees, legal fees, valuation fees as well as an exit charge payable to your previous lender.

 

If you are searching to a non-status remortgage or a suitable alternative, it is advisable to shop around as much as possible for comparisons on mortgages from as many different providers as possible. As well as this, you may wish to consider enlisting the servicing of a broker to help you in your search, although they do charge for this service.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The above mortgage products highlighted on this website are available directly through lenders who will be able to provide further information about the product you are interested in. If you are unsure about what mortgage product is suitable for you, we suggest you speak to an independent mortgage broker