Potential Hurdles when Applying for a Self Employed Remortgage

Trying to get a self employed remortgage may be much easier said than done. If you are just now getting out into the market as a self employed person, you might find it much more difficult than you initially anticipated. If you definitely need to go through with a remortgage, you will have to stick with it and not give up on the process. Here are a few potential hurdles that you will have to overcome if you are self employed. 

Income Verification

The toughest hurdle that you will have to overcome is proving that you make enough money to satisfy the mortgage. When you are self employed, you tend to have problems verifying that you receive a regular income. Your income may come at random times and therefore may be difficult to prove. If you want to successfully be approved for a loan, you need to do everything that you can to prove that you have a steady income. 

Lack of Options

Another big hurdle that you will have to overcome is a lack of options in the industry. There are not as many lenders that will want to work with self employed people. Therefore, you will have to look harder for companies that you can work with and be more flexible. 

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