Non Status mortgage loans are where people find it difficult to prove their full household income. They may wish to arrange a certain loan or mortgage amount but cannot necessarily show documentary evidence of their full household earnings. In this situation borrowers choose to self declare their income in order to present a true representation of their annual income provided that such a product is suitable for them.
There may be several reasons why people opt to self declare their income.
They may fit into any of the following categories: Unsalaried ltd company directors
Contractors workers (increasingly common in technology-based industries) Commission workers (often in sales, recruitment etc) Employees with seasonal earnings Those with more than one income City workers or others who receive a high annual bonus People from other sectors such as the airline industry, who have complicated systems of bonuses and allowances that make conventional documented proof of income problematic. Borrowers on a low wage who have an inheritance fund or other family income Freelance earners
Non Status loan lenders take the view that these borrowers can be good clients, but simply do not fit into the "boxes" that some high street lenders include in their lending criteria. Non status UK Specialists- Our partners deal with non status remortgages on a day to day basis. They can talk through your circumstances and source from the whole market. They then smoothly take you through to offer and completion in a fast and efficient process with the best loan product that is suitable to your needs.
