Non
Status
Mortgage
In the UK,
Non-status
Mortgages
and
non-status
remortgages
are the
generic term
for products
designed for
people who
cannot prove
their
income. Use
our Mortgage
Comparator
to
immediately
compare the
widest range
of UK
non-status
mortgages
available
online.
Alternatively,
click on the
button below
to apply for
independent
expert
advice.
Complete the
short
application
form now and
we'll get
back to you
within a
couple of
days.
Mainly for
people whose
income is
difficult to
assess using
the standard
method
adopted by
most
conventional
mortgage
lenders.
Bonuses
commission
and seasonal
work can
cause income
to vary over
time or be
difficult to
guarantee
and this may
not be
considered
acceptable
in order to
get a loan.
The main
groups of
people that
opt for
self-certification
mortgages
are:
Self-employed
and
unsalaried
company
directors
Contract
workers
(increasingly
common in
technology-based
industries)
Commission-based
workers
(often in
sales
recruitment
etc.) People
with
seasonal
earnings.
The interest
rate you are
charged will
be higher to
compensate
the lender
for the
increased
risk.
Several
different
categories
of applicant
can benefit
from a
non-status
mortgage.
Sole-traders
and the
self-employed
often find
it difficult
to obtain a
mortgage or
re-mortgage
from high
street
lenders.
Individuals
who have
non-standard
patterns of
work or
remuneration,
such as
contract
workers and
unsalaried
company
directors,
may also be
categorised
as
non-status
due to their
inability to
provide the
proof of
income
normally
required by
traditional
lenders. If
you find
yourself in
this
situation,
you will
probably
have to
apply to a
specialist
non-status
mortgage
provider.
With
non-status
mortgages
there is no
need to
supply wage
slips,
accounts,
bank
statements
or other
evidence of
earnings. A
non-status
re-mortgage
can be used
to raise
additional
funds and
capital for
any purpose.
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