Fast Remortgages for non status people
44Here are a few tips to getting a remortgage fast when your non status.
Just in case anyone is wondering non status is a term used to when you are applying for a mortgage and you can't prove your income using traditional methods such as wage slips. In these circumstances people to refer to themselves as non-status and need to self certify their income.
Non-status is normally only available to people who are self employed and are having difficulty showing audited accounts or trading history.
A few tips to a fast remortgage quote when your non status. Ask your existing lender for proof of 12 months payments this will speed thing up. Some products exist where you don't have to prove mortgage payments, however, this will increase your interest rate.
As a self-employed you can self cert however, you are still normally constrained to income multiples which is normally between 3 and 4 times your Annual Income e.g. if you earned £55,000 last year multiple that by 3 or 4 to get a rough approximation of what a mortgage lender will allow you to borrow.
Proof of Income, normally none the mortgage lender will ask you to sign on the mortgage application what you earned last year.
Fast - A subjective term so here are a couple of markers for you mortgage brokers normally quote 4 - 6 weeks to complete, however if you respond quickly, promptly and follow your qualified mortgage advisors instructions you can half those time frames.
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