When can you Remortgage

There are also many occupations in which you can be considered self-employed, such as musician, photographer, freelancer, consultant, artist or dancer, to name a few. When you are in the self-employed class, you need to be clear about a few things before proceeding with your mortgage request.

Most of the time everything is the same as when you remortgage as an employee, however you just have to prove things something other than so that lenders can safely complete the affordability checkups. However, some creditors find it more challenging to judge the selfemployed worker finances, which makes good business sense given that repayment is dependent on your pay, so if you're not on a standard payslip, you can see why additional action is needed.

Yet, don't worry, there are a few things you can do to make your remortgage as simple as possible. It is necessary to keep your documents available for 3 years as this will help demonstrate your finances. To be able to show that you have a sound flow of projected work, e.g. projected vacancies that are imminent etc., will help you as this will help demonstrate your prospective income.

Good loan histories will keep you in good shape when it comes to your dealings with creditors. When you can show that you have a good credibility, as well as a sound investment and a well documented financial record, you will be in a good debt restructuring situation. If you speak to a professional in this area, you will be placed in a good situation to prepare for a remortgage.

Let our mortgages advisors hear about your personal circumstances and make suggestions about your possibilities. Could you remorgize as a self-employed person? Self-employment does not prevent you from taking out a loan at the end of the workday. You will still end up with a hypothec, just like everyone else, because there is no "independent hypothec".

If you have further refinancing queries, read our articles "How does refinancing work?" or contact us. If you take out a mortgages, you may have to reimburse your current creditor for early redemption. You can repossess your home if you do not maintain your mortgages.