Finding the best mortgage rate if you are self employed really depends on what your current situation is, your future plans and what features and benefits you require from your mortgage. What is worth remembering is that the lowest rate is not necessarily the best as this may have larger fees attached to it and as such could ultimately cost you more. Look here to check the latest mortgage rates.
Some things to consider are:
How much are you borrowing – ensure you cost out the overall cost of the scheme based on this amount.
The term of your scheme – remember to cost out the value of the product or rate depending on what term this is provided over ie is it a 2 year deal or a 5 year deal etc.
Any additional fees – what other fees may be payable other than that for the rate itself ie does the lender charge a survey or valuation fee.
Flexibility – do you want to be able to pay extra off your mortgage throughout the period of the rate being applied for, if so, how much and when. Most allow up to 10% of the balance to be paid off each year without penalty but this may not be suitable for you. Also, would you like it even more flexible where anything you’ve paid off can be redrawn again at any time, typically referred to as an offset mortgage.
Future plans – What plans do you have in the future ie home improvements, moving house, and could these happen during the term of the product you are considering. Most mortgage products are portable ie can be transferred to a new property if you move however not all are, and even those that can be there is no guarantee that your circumstances at that time will meet the lenders criteria or that the property will meet their suitable security remit. If it can not be ported you could find yourself having to pay a penalty.