Discounted mortgages for the self employed.
Brightstar has launched new discounted mortgage products for self employed borrowers.
Since the beginning of the credit crisis self employed property buyers have found it difficult to source a competitive mortgage offer. In fact many have found it virtually impossible to find a lender willing to offer them a mortgage.
Lenders now class self employed lending as high risk and therefore have severely restricted their criteria to this sector of the market.
The end of self cert mortgages has meant that self employed borrowers have to jump through hoops if they want to be considered for a mortgage offer.
Brightstar recently launched a 2 year discounted mortgage range which they say was created with self employed buyers in mind.
If you work for yourself and are looking for a mortgage Brightstar offer discounted rates from 4.99%. For 75% loan to value a rate is on offer at 4.99% and at 80% loan to value a rate is on offer at 5.49%. Applicants need to provide one years accounts and a forward projection inorder to be considered for a mortgage.
A Brightstar spokesperson commented saying its new discounted mortgages have been launched to provide deals for entrepreneurs, it is hoped they will prove popular with self employed borrowers.
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