Compare Self Employed Tracker Mortgages
It has always been slightly more difficult for a self employed person to find an affordable mortgage deal, but it is by no means impossible. There are a number of specialist lenders that may offer customers a quote, assuming they meet with their criteria. If you are looking for a self employed tracker mortgage, there are several factors that should be taken into consideration:
- It is possible that lenders may require larger deposits or charge higher interest rates for self employed, so it could be crucial to shop around for self employed tracker mortgage deals
- Comparing several self employed tracker mortgages from different providers can help to narrow down the best offers
- Lenders may offer more favourable mortgage deals to self employed people who can prove they will be reliably employed on a long term basis
- In order to receive a favourable offer from a lender, providing a regular source of income with audited accounts may be essential
As you search for self employed tracker mortgage deals, you may wish to consult the mortgage comparisons table below. It contains information on offers from several different providers. A self employed tracker mortgage will generally have its interest linked to the Bank of England base rates, although starting rates may initially be set by the provider. These types of deal are often popular with customers due to the fact that their rates move up or down in sync with any changes to the Bank of England base interest rate, and cannot be influenced by the provider.
A tracker mortgage with flexible payment options may also be of interest to a self employed person. Such mortgages may offer the option to make over- or underpayments, meaning that you could make larger payments at times when business is good, and smaller payments during quieter periods.
For independent mortgage advice call our mortgage team on 0117 332 6063.