Self Certification Mortgage

A Self Certification [Self Cert] mortgage is designed for borrowers who are unable to get a standard mortgage because they do not have a steady monthly income. For example, the self employed or contract workers.

What type of rates are available?
Most banks and building societies now have a specialist branch dedicated to Self Cert lending. 

A full range of rates are available, including;

• Fixed
• Capped
• Discounts
• Trackers
• Flexible

How does this work?
Self Cert mortgage lenders generally require to see a minimum of three years audited accounts as evidence that you can afford the mortgage repayments.

Make the right choice for you
With many lenders offering this type of mortgage it's important to shop around and compare deals to find the right one for you. The best way to do this is with the help of a qualified financial advisor, trained to provide advice that will help you to make an informed decision.

Don't exaggerate
The biggest risk with Self Cert mortgages is that you of over-commit yourself to a mortgage you cannot afford.

It is therefore crucial to provide accurate income figures at the outset and that you can afford the monthly mortgage payments.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.