no proof of income remortgage

Aug 28, 2006 2 Replies

My current mortgage product is due to expire and therefore I would like to remortgage. However, my income is very erratic and therefore I cannot provide the usual income evidence.



The current mortgage rate I am paying is 4.99% and therefore I want a rate thats at least as good. This would rule out the usual self cert mortgages and it would appear that only the usual high st lenders offer rates below this eg Abbey are offering a 2 year tracker at 4.62%.



What is in my favour is that the LTV is only around 20%. Therefore as this is so low do any of the High Street lenders not require proof of income if the LTV is low and will simply rely on what you state in the application form.



Depending on who your current lender is, they might be happy to rearrange a different mortgage without further proof of income if you've been paying on time - I wasn't asked any income details when I swapped to a different mortgage with the Halifax recently (they were my existing lender).

Many lenders will not ask for proof of income with an LTV as low as this. Try one.

Rob Graham

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