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I am self employed and my income has reduced can I still obtain a mortgage?
Yes it is possible to obtain a mortgage if you are self employed and your income has reduced. If your income has reduced by between 1% and 25% between last year and this year most lenders will still be happy to grant you a mortgage. If your income has reduced by more than this, the lender will probably want a projection of income from your accountant for the next tax year to show some kind of recovery or an explanation from your accountant that this years’ income was just a blip. The overall cost for comparision is 7.3%APR. The actual rate available will depend upon your circusmstances. Ask for a personalised illustration. APR is variable and is based on a usual case.
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