self certification mortages
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of the products and services described in this web site.
self certification mortgages are loans where the borrower makes a statement of his or her income and the lender makes fewer checks than normal on the accuracy of this statement. Here are a few of the self certification mortgages that we currently have available from our lenders, these are always changing so you can always change your mortgage further down the line when there are better deals available.
A self-certification mortgage is a mortgage where the amount you are allowed to borrow is based upon what you tell the lender you think your income, based on previous years, will be rather than having to show your most recent pay slips as you would with other more conventional mortgages.
The people who tend to get self certification mortgages are self employed and they will have to show the lender their past accounts to show what their earnings have been previously, presuming they are in the same business, usually your business should have been running for approximately three years.
As with all mortgages it is important that you speak to our advisers and let them do some shopping around for you and see which lender will give you the best offer, usually with the lowest rates, because there are now a hell of a lot of self cert mortgages about at the moment. The lender will also allow you to miss a few payments if you have some problems with your business, because most businesses tend to have a bad month now and again and also if you are having a good month or even a good year then you can overpay which will allow you to pay off your mortgage early.
Whichever self certification mortgage you choose to apply for for always make sure that your lender is regulated under the mortgage code.