| Many mortgage lenders have recognised this and are providing self-cert mortgage products to suit the needs of borrowers who do not fit into the traditional employed regular stable incomed salary mould. These specialist self cert mortgage products are now well established and competitively priced. |
| Self Certification Mortgages are independent Mortgage Brokers. As specialists in the field we can tailor a self-cert mortgage to suit individual needs where no proof of income is required. There are no fees on our self cert mortgages. |
| There are basically 2 levels of self certification mortgages: |
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True self cert is where no enquiries or references to accountants or employers are made at all in most circumstances |
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Traditional self cert is where limited enquiries are made to an employer (to establish, for example, that you are employed) or accountant (to establish, for example, you are solvent and are likely to be able to afford the repayments). You may be asked to provide your last 3 months bank statements. |
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| Self Cert mortgages are suitable for: |
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Self employed but have not been in business for very long, perhaps under 3 years, then a self cert mortgage is probably the answer. |
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Seasonal jobs such as the tourist industry then a self cert mortgage may be right for you. |
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Successive short term contracts such as in the computer industry |
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Limited company owners where income is mainly derived from dividends and do not fit the normal income criteria can still obtain a very competitive rate using a self cert mortgage. |
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Sales employees on a low basic or who have fluctuating commission payments or irregular bonus payments (which make it difficult establish an exact income for the year) will benefit from a self-cert mortgage. |
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People with multiple income streams may find it difficult to prove their total income now have the ideal vehicle in a self certification mortgage. |
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| Please note: self certification is not a method of borrowing amounts far larger than you can sensibly afford by grossly over inflating your true income. Your home may be repossessed if you do not keep up payments on you mortgage. |
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