Self-employed consultants often face hurdles when applying for a mortgage. Generating irregular monthly income, proving long-term sustainable earnings, and project stability are all common requirements when enquiring about a mortgage. There is, however, an important certification you can provide to greatly improve your chances, which is to provide a Professional Consultants Certificate (PCC).
A PCC, Professional Consultants Certificate, is a legal document issued by a chartered architect or surveyor, which confirms that a house build/extension is compliant with UK laws and regulations. A PCC provides 6-year liability coverage to lenders and future buyers, and is widely accepted by UK mortgage lenders.
Having a valid PCC confirms that a property meets all required standards. So when using a property as collateral, this gives banks and mortgage lenders peace of mind, increasing the chance of mortgage approval.
When applying for a PCC, chartered surveyors will inspect the property, documenting the inspection. This will remove the need for an inspection from any mortgage lender, as you will be able to provide documented evidence of this. Having the inspection out of the way can greatly reduce the time it takes for approval.
As a self-employed consultant, you may find that you need to provide robust financial proof for mortgage approval. Combining your own financial documents with a PCC can give your application stronger validity.
A PCC can shift the focus of the mortgage lender from any income irregularities by assuring the lender of the property's quality and value.
PCCs are a cheaper alternative than structural warranties or architect certificates, and are just as widely accepted.
From the moment you are awarded a PCC, it is valid for 6 years. This gives you, as a self-employed consultant, a strong time frame to meet with different mortgage lenders to borrow from.
> A PCC (Professional Consultant Certificate) is a certificate provided by a chartered architect or surveyor who has deemed your property build/extension to be compliant with UK laws and regulations. This certification is valid for 6 years.
> For Self-employed consultants, a PCC can boost credibility and reduce lender risk when approaching a mortgage lender for a loan or mortgage.
> For buyers and lenders, a PCC of the property offers peace of mind, which is crucial for decision-making.
Are you a self-employed consultant who needs their property evaluated? Start the process with a quote, or to learn more, speak to a member of our expert team. We’re happy to help.
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