Buy To Let Self Employed
How To Find A Buy To Let Self Employed Mortgage?
A buy to let self employed mortgage, or a self cert buy to let mortgage is not based on what you earn. Usually a mortgage lender will look to a monthly income as a means of dictating how much you can borrow and how much you can pay back, even when rental incomes are involved. But with a buy to let self employed mortgage the lender has to take a risk - they have to bank on you being able to earn your own money if things go wrong with your rental income. So it's a risky business, and in this time of heightened lending fears and tightened credit limits, risky business is not something lenders are looking for.
But it is still possible to get hold of a buy to let self employed mortgage. There are self certified lenders out there who know that many self employed individuals can easily cover mortgage repayments, and more. So buy to let self employed lenders have created special mortgages just for you - based on your past income and your past credit experiences. It does mean these deals are slightly more expensive than your common buy to let mortgages, but they still offer everything any other great buy to let mortgage would.
So how do you get hold of one right now? Lenders are hanging the closed sign up and down the country, turning down business and waiting for the credit crunch storm to pass. If you want to get a buy to let self employed mortgage you need to be a sure-fire bet. This means having a clean credit score and a solid financial history. Go online and see what your credit situation is like and get all your finances in order. Make sure your current mortgage is as healthy as it can be and have an idea of what sort of buy to let self employed mortgage you can afford. A buy to let self employed borrower who is prepared will be a lot more attractive to a lender than one who doesn't know their own status.
Buy to let self employed mortgages are not impossible to get hold of, and there are lots out there for borrowers who can handle the responsibility. If you are self employed and think property investment is the way forward, talk to a mortgage broker today about finding the best buy to let self employed deal out there for you.
