- 24
- Apr
Self-employed workers are getting an increasing amount of access to "fairly-priced" home Loans, an industry expert has suggested.
According to managing director of My Mortgage Direct Paul Hearnden, a rising number of borrowers who cannot verify their income as they work for themselves are now able to get a competitively-priced secured homeowner loan.
He said: "Increasing numbers of lenders have steadily been waking up to the fact that
self-employed people and those who can’t prove their income with standard pay slips are still able to maintain mortgage repayments."
As a result, Mr Hearnden indicated that self-employed borrowers "can now get a fair deal instead of being fleeced for not fitting the standard PAYE mould".
Rising property prices were attributed to the increased popularity of such mortgage products, a move Mr Hearnden claimed would allow "people from all walks of life" to own their own property.
Meanwhile, research conducted by moneysupermarket.com revealed some six per cent of borrowers could develop debt management problems as they are unaware of how much interest they are paying.
Interfinancial providing you with breaking homeowner loans news.
