Self Employed Remortgages
When you're considering a remortgage, as with any substantial lending, you should do whatever research you can to find out the range of deals that are available, so that you put yourself and your finances in the best possible position. If you're self-employed, it can be a bit more difficult to get access to the best of the available options.
You can start by having a look around the Internet, and get a sense of which deals you're likely to be offered. Naturally, your options are a little different if you're self-employed, as this is seen as an increased risk by most lenders, but it certainly does not mean that you won't be able to get a remortgage, and an increasing range of deals are now available for self-employed people.
A number of online tools are available to help you to compare the deals on offer, and to calculate what the impact of any prospective remortgage may be on your financial situation in both the long and short term.
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With most standard mortgages and remortgages, you need to prove your income to the lender to demonstrate that you can afford the repayments, and normally this is done by producing bank statements and other documentation. However, if you're self-employed, it can naturally be difficult to prove what your income will be over the long term, even if you've been involved in the same industry for a long time.
Options
The range of remortgage options that are available to you if you're self-employed are not typically the main standard remortgage deals. Some of them are offered by lenders who specialise in these non-standard deals, and are therefore a little harder to come by.
Brokers
It can pay to use the services of a remortgage or mortgage broker if you're looking for a deal that is not standard. These brokers often have access to many more of the deals that are likely to apply to your circumstances, and you can therefore find yourself facing a much more extensive and appealing range of options. It's always worth shopping around when you're looking for any lending, so take the time to do this and get yourself a good deal.