More than a third of self-employed would-be mortgage
applicants didn’t go ahead because they expected rejection, a new study has
found. One in five who applied were turned down because of insufficient proof
of future earnings. The study, by specialist lender Together, found that 36% of
self-employed people who wanted to buy a home of their own decided against
applying in the past five years because they expected to be turned down. Self-employed
borrowers are being put off before even applying for a mortgage or remortgage
as they worry about strict rules on proof of earnings at High Street lenders.
Read more on the Property Wire website.
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