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| You
may qualify for a status mortgage if each applicant can provide a detailed continuous
history of their income over the past year. A Lender will generally offer their
best rates for a status mortgage because it is easy for them to check you employment
history to be sure that you will be able to afford your new mortgage payment.
They usually place strict rules on how you must prove this income when you apply.
If you can not or do not want to provide detailed income proof then click here
to read about self certified mortgages. |
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Employed Applicants |
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| The following
are examples of the kinds of evidence Lenders will require if you are an employed
applicant: |
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Employed Applicants
- Employers
Reference (you will be deemed self employed if you own more than 25% of the common
stock of the company employing you)
- P60
& 2/3 months of computerised payslips
- Hand
written payslips and pay packets may be acceptable – but you will need to
check with us first
- Probationers
and contract workers may also qualify for a status mortgage with a letter from
their employer(s)
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| Each lender
has their own guidelines for the evidence they will need and this is only to give
you a general idea of what they will require. The specifics will depend on your
circumstances. |
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|
Self Employed Applicants |
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| A self
employed person can still qualify for a status mortgage provided they can clearly
provide evidence of their earnings. The following kinds of evidence will be acceptable
if you are self employed: |
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-
Accountants Certificate
- Audited
Accounts prepared by a suitably qualified accountant
- Inland
Revenue self assessment certificate covering the previous tax year
- A
minimum period of self employment is likely to be required.
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| Each
lender has their own guidelines for the evidence they will need and this is only
to give you a general idea of what they will require. The specifics will depend
on your circumstances. |
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| We can
help you decide what kind of mortgage suits your circumstances as we process your
enquiry. There is no obligation so contact us now! |
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