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Mortgages & Loans Self Cert Mortgages - Non-Status
If you cannot provide any proof of income or you have no credit record, then you are considered to have non-status.
A non-status mortgage
Non-status mortgages are offered by lenders to borrowers who do not have...
- Previous mortgage history.
- Proof of income.
- No credit history.
This means the lender does not need to investigate your employment or income status. This type of mortgage is particularly suited to the self-employed.
Mortgages offered without any of these requirements have a maximum loan to value of 70%.
You will be needing a self-certification (or self cert) if you have no financial status this could be because you are :-
- Self employed
- A Contract worker without a regular income.
- Seasonal Worker
- Unsalaried ( Bonus driven, commission driven etc...).
The interest rate for non-status borrowers is at a higher rate than traditional mortgage agreements.
Non Status Mortgage
Even if your credit history is a little tarnished, mortgages of up to 70% are still available. It is possible to arrange a non status mortgage even if you have been turned down elsewhere or are self-employed.There are many non status mortgage lenders who will assess your situation without using set criteria. This allows your individual circumstances to be taken into account when processing your mortgage application.
It is possible to arrange a non status mortgage without any proof of income or proof of mortgage history.