UK Mortgages: Self Cert Mortgage

SELF CERT MORTGAGE

Maximum mortgage 90% LTV available

Known as self-cert mortgages, there is sometimes a mis-understanding by applicants on how these loans work. Some people think (wrongly) that self-cert allows you to achieve any amount of lending you want to secure your new home or refinance an old or existing loan without taking into account your actual income or affordability.

Well, let us tell you straight and listen well... Self-Certification mortgages have a valuable place in the market. They are used by people who do not wish to prove their income, they don't want to lie about how much they earn, they just don't want to have to supply the paperwork to support it, and that's the important point. The lender will take the customer at their word and yes you have to sign to this effect. In most cases no other checks are carried out. We will help you to obtain the right loan from the right lender at the right price, matching your needs to the criteria set by the mortgage provider or lender.

Self Employed Self-Certify

Starting your own business as a sole trader or partnership can be a primetime to apply for a mortgage. You may need extra space to run yourbusiness from home, or decide to finance your independent venture atlower interest rates than a business loan from a bank. Self Certification(self cert) can also be the answer if the business you own or part-own hassome bad debts, although you personally have a good credit history.Professionals beginning their career on a low salary, but whose incomesrise rapidly can also benefit from Self Certification mortgages, allowingthem to choose the property they know they can well afford.

Irregular income Self Certification

A Self-Cert mortgage can generally allow payment holidays which can be important to seasonal workers, or those with fluctuating incomes.

Flexible Self Cert mortgages

allow early repayment of all or part of the mortgage for those receive lump sums over the mortgage period. They canalso allow underpayments and the flexibility to receive further advancesfor those times when income is not so forthcoming. You just need to sign adeclaration confirming that your income is as stated.

Before lending you money a lender will want to be sure that you can afford the repayments. With a mortgage or other secured loan, a charge will be taken over the property.

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