Flexible Mortgage

A self-employed borrower would more than likely have a history of bad credit and that will reflect badly on any application for a conventional mortgage product. Also, those people who choose to work for themselves often can not prove a regular or standard income. This is especially the case if they have just been running their own business for less than two years as they would not necessarily be seen as an established company in the market they are trying to penetrate. Therefore, these borrowers that fall into this category would be advised to seek another mortgage product. However, those that do have established businesses that generate large sums of money would be well suited for a flexible mortgage. With the ability to over or underpay each month the borrower would find this beneficial if their income fluctuates.

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