The self-employed are still positive about their future

It has been reported that even after the latest base rate rise the self-employed are growing in confidence about their financial future.

The self-employed now play an increasingly important part in the UK economy with the number of people self-employed still increasing in numbers.

There are many advantages to be self employed with one of the main quoted “doing the work that they enjoy” as it is very unlikely someone will start a business in a field they do not enjoy.

Mortgages for the self-employed used to be harder to get but with the increasing numbers of self employed this is no longer the case, with many mortgage companies allowing people to declare their incomes without having to provide the relevant documentary evidence. This type of mortgage is called a self certification mortgage or self cert mortgage.

They have made it much easier for the self employed who may not have three years audited accounts or salary slips to prove their income, they simply have to state their income and sign a declaration that it is correct.

They should however not overstate their income as at the end of the day you have to make the mortgage repayments.