There are millions of self-employed people in the UK. These people may have a problem finding self-employed mortgages from a high street lender. Those fortunate enough to be in standard full-time employment are basically guaranteed to be paid, and references from their employer can easily be obtained in proving their income. High street lenders may prefer this type of applicant as they see less risk involved.
If you are self-employed or perhaps working on a cash basis, you could be financially sound, and able to keep up your payments, but that doesn't make it any easier for you to prove you'll keep up payments to your new lender. They want to ensure that you'll be able to keep up payments for the term of your remortgage, not just over the next 12 months. If you are on a contract, you maybe are not guaranteed to get it renewed. You will need to look for a self-employed remortgage.
A high street lender will want to see a few years audited accounts from a qualified accountant or tax assessments before they usually consider you for a self employed remortgage.
Even if this information is available, your accountant may have assisted you in mitigating your annual tax bill by keeping your profits low. You may be able to get a self-employed remortgage by declaring your income or providing a declaration of affordability from your accountant.
Of course a secured loan is another option and you can find a at one of the fastest growing online lenders
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