Competitive Mortgage Rates For The Self-Employed

Competitive mortgage rates for the self-employed

Competitive Rates For Self Employed Mortgages
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Highest Loan To Value Purchase Mortgages And Remortgages - Low Rate Loans From £5,000 To £150,000 - Release Your Equity With An Equity Release Plan

Video transcript

Getting a self employed mortgage can prove tricky and perhaps even more so these days, but First Choice Finance can help to ensure that being your own boss is no barrier to getting a home loan, be it a remortgage or a purchase mortgage.

Before the financial crisis, it was possible to get self-certification mortgages that could allow contractor buyers to get the homeowner loan they needed more easily. However, many feel these were abused before the fiscal downturn and after it lenders have been tightening up their borrowing criteria for all applicants.

This makes life particularly tough for contractors looking for a self-employed mortgage, as it can be harder for you to prove the income consistently as the nature of your work means that income often varies from month to month – and therefore their ability to make repayments may look less assured when compared to someone who has a regular payslip.

However, if you`re looking for a home loan and you are self-employed, you may want to get references from your accountants and an SA302 form, which can go a long way to showing lenders that you can afford to pay back the loan.

Once you enquire about a self employed or contractor mortgage as it can take a couple of weeks for the information to all come together, but when it has, with the help of First Choice Finance we can help to identify the most suitable deal for you and get your deal completed.

We`re able to do this as we have 25 years experience as a mortgage and loan broker that can look across our mortgage lenders and second mortgage providers, including the offers that are developed particularly for people in your position.

Find out more about taking out contractors and self-employed mortgage by visiting firstchoicefinace.co.uk, calling 0800 298 3000 from a landline or 0333 003 1505 from a mobile.

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Homeowner Secured Loans
9.8% APRC. Representative example: Borrow £50,000 over 180 months. 60 months at 8.1%, £497.83 pcm fixed at 60% LTV. Then 120 months at 10.1%, £539.89 pcm variable. Total payable £94,656.60. Total cost of credit £44,656.60 (including: £795 lender fee, £985 broker fee & £42,876.60 interest). First Choice are tied to certain loan providers.

Mortgages & Remortgages
8.4% APRC.
Representative Example: Borrow £120,000 over 25 years at 5.99%, £778.86 pcm fixed for 3 years at 60% LTV. Then at 8.75%, £974.86 pcm, variable for 22 years. Total payable £286,416. Total cost of credit £166,416 (including: £985 broker fee, £999 lender fee & £164,432 interest)


Unsecured Personal Loans
REPRESENTATIVE 49.9% APR (VARIABLE)
First Choice are tied to certain unsecured lenders.


THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Security is required on immovable property.



Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home. We Advice Upon & Arrange Mortgages & Loans. We Are Not A Lender.

First Choice Finance is a trading style of First Choice Funding Limited of 54, Wybersley Road, High Lane, Stockport, SK6 8HB. Copyright protected.

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