Self Cert Mortgage
Self-certification mortgages are available for clients who
cannot verify their income as it may come from a number of
sources, or they may not have been trading for long enough
to have the required number of years accounts. The lender will ask for
details of the borrower's income, but they will not normally require
to see proof of total earnings.
Fortunately many lenders now offer a mortgage product
designed specifically for this market. Known as a self
certification mortgage, borrowers can declare their earnings
themselves and only need to provide a credit check or
references from a bank.
This is an ideal solution for many borrowers, although self
certification mortgages do have a couple of drawbacks, such
as higher interest rates than standard mortgages. Many
lenders will also require that borrowers have a substantial
deposit saved.
It is important to be careful when declaring your income not
to overstate how much you earn. By stretching yourself you
may be unable to meet the repayments and risk losing your
home.
Please complete our simple online
enquiry form
today and we will
contact you with a free no-obligation quote, so what have
you got to lose?
The overall cost for comparison is 7.5% APR. The
actual rate available will depend upon your circumstances. Please ask
for a personalised illustration. |
