In the last few months, we've seen an increasing amount of interest only enquiries from existing property owners looking to reduce their monthly payments due to the increase in rates. Interest only mortgages can be an attractive option for mortgagers looking to lower their monthly payments and delay paying the capital off. However, they also come with some unique risks and considerations that borrowers should be aware of. What is an interest only mortgage? An interest only mo
Most lenders will assess your last 2 years of income, but some will consider your latest year if your business is growing. Getting a mortgage when you’re self-employed is absolutely possible, but it can be slightly more complex than a standard application. Lenders want to understand how stable your income is and how likely it is to continue. In this guide, we explain how it works and what you can do to improve your chances. How do lenders assess self-employed income? If you’r
