Historically,
people who were unable to provide evidence of all their
income have often found it difficult to get appropriate
mortgages:
They
were offered mortgages that were too small
They
were refused completely
Self-certification
mortgages provide a solution to this problem for
many people whose full income cannot be guaranteed or documented.
Although
self cert mortgages, as they are known,
are often associated with self-employed people, in fact
they are available to people from all walks of life, regardless
of their employment status.
Self-certification
mortgages are just like regular mortgages except for one
thing:
You
do not have to prove your income
All
you have to do is provide a signed declaration of your income
and your ability to afford the mortgage you are applying
for:
Your
accounts will not be checked
You
will not have to prove your financial or employment status
The
only checks will be standard credit checks
Aren't
Self-Certified Mortgages Only For the Self-Employed?
No.
It's a common misconception that self-certified mortgages
are only for the self-employed.
In
fact, they are available to anyone who cannot or does not
wish to prove their full income, but would like to be able
to borrow an amount based on that income.
A
huge range of people are eligible for self-certification
mortgages. Here are a few examples:
Employed
people with more than one income – e.g. a part-time
business, or several part-time jobs
People
with income from investments or pensions
Seasonal
workers
Self-employed
Freelancers
and Contractors of any kind
Company
directors who are unsalaried
Workers
who are paid on commission only
Workers
whose annual bonus is a large part of their income
Temp
or agency staff, whose income varies and cannot be predicted
Self-certified
mortgages are extremely flexible and simply
require you to decide how much you can afford to pay each month
and how much you earn, in total, each year.
Read
enough? Just want a quote? To get
your best mortgage quote quickly and easily we can
put you in contact with a recommended mortgage adviser. It's free,
completely confidential and there's no obligation at all. Simply
fill out the form below
