Non Status Remortgage | Need A Change?

Have you had your non status mortgage for a while now? Maybe you got it some time ago, but your situation has changed and it just doesn't fit your needs anymore. But which non status remortgage to choose this time? There are a host of choices when it comes to mortgages for people who cannot prove their income, but there is only one mortgage that is perfect for you. So if you are considering a non status remortgage take your time and think carefully about exactly what you want and exactly what you can handle.

Firstly, the UK mortgage market is very different to the one that your last non status mortgage came from. The credit crunch has meant that lenders have had to raise mortgage rates for riskier borrowers, like those who cannot prove their income. So be ready to pay more for your non status remortgage this time round - but don't be ready to settle for anything. Just because the market is pricier doesn't mean there isn't choice or freedom for those looking for a non status remortgage.

Ask yourself - what was good about your old deal? What worked well with your income type? And more importantly, what didn't work? Were there elements of the mortgage that you struggled with? To find the best non status remortgage you need to learn lessons from your old mortgage. If it was the term that didn't work, get a different term this time round. If it was the extras or penalties that kept stinging you, make sure to pay special attention to the small print with this non status remortgage.

Of course, since your last non status mortgage, your personal situation has bound to have changed. What do you need now with this non status remortgage? Do you need to consolidate now that the debts have built up over the years? Do you need an extension or home improvements? And how has your work changed? Is it even more crucial to have payment holidays? Or do you want to start paying off your mortgage now things are on the up? Whatever you need, a non status remortgage can be tailored to your new demands.

But remember - just because you are searching for a non status remortgage it doesn't mean you can afford to be lazy. Make sure all your finances are sorted out and always check your credit rating. A self cert lender will always prefer to lend to an existing borrower, but they will not lend regardless. In this time of tightened credit and stricter criteria you need to be on top of your game and have a good plan if you want to be accepted for a non status remortgage.

And don't forget to get some advice when planning your non status remortgage. The mortgage market changes constantly, so it will be a whole lot different to the last time you took out a home loan. A non status remortgage may seem like an unimportant decision, but it's one that will affect you for years to come.