If you are self employed with earnings from various sources it may mean that you are unable to provide proof of your income. A secured loan may be the answer. Many secured loan lenders understand that self-employed people may not be able to provide accounts as they have not been trading long enough for example, and are happy to arrange secured loans on what is called a self certification loan or self declaration basis.
These self certification loans can also be arranged for employed people who may have a second source of income they cannot prove, such as investment income or rental income from another property perhaps.
Self certification loans are just as straight forward to arrange as a normal secured loan for someone who can prove their income. They sometimes have a slightly higher interest rate or may require more equity to be available in the property; however this only reflects the lenders flexibility by offering this type of secured loan and not asking for proof of income.
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