Self-Cert Mortgages
Self-certification (self cert) is a
simple way of detailing your income without having to provide
proof of income - you simply self declare what you earn.
This type of mortgage has become very
common over the last few years because there are now a lot
of people who would have difficulty confirming their income
but can easily afford the monthly outgoings. An example of
this could be someone who works on commission only, or has
irregular but large bonuses, and their income fluctuates greatly
month by month, or someone who is freelance and therefore
would earn irregular lump sums when their work is completed.
Another example may be someone with a low income but receive
payments by the way of dividend payments.
As far as mortgage deals are concerned,
there are still the same choices of rate as a mainstream loan
ie fixed rates mortgages, discount mortgages etc but the rate
charged will be higher.
The overall cost for comparison 11%
APR
The actual rate available will depend upon your circumstances.
Ask for a personalised illustration.
If you fit into any of these categories
and wish to know if you can get a mortgage then please complete
our enquiry form.
Your home may be repossessed
if you do not keep up repayments on your mortgage.
Details
of our fees can be found here.
The FSA does not regulate Commercial
Mortgages or some forms of Buy to Let Mortgages. |
