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Self Employed Rates compared with pre-covid
Luke86
Posts: 34 Forumite
Just wondered if anyone here is self employed, was looking for a property/mortgage pre covid, and is now looking/has purchased.
Did you find you had less options for providers? Was the rate worse?
My flat fell through at 130 but just sold it at 120 so looking around now.
Thanks
Did you find you had less options for providers? Was the rate worse?
My flat fell through at 130 but just sold it at 120 so looking around now.
Thanks
0
Comments
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Rates are starting to increase again now, options are out there but naturally less or stricter than before covid and your going to get more questions0
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Across the board criteria , products and rates all all tightening. Hardly surprising given the economic climate and lenders own outlook for the property market.0
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Thought as much. Hoping as I have a good deposit it won't be too bad, but who knows!0
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Rates are the same for employed and self employed applicants.
General rule of thumb I have found is 75% LTV and under, rates have stayed more or less the same.
75-80% LTV and rates have maybe gone up marignally.
85%-90% LTV and rates have gone up.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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