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Mortgage Guide
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Types Of Mortgage
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Self
Certififying Mortgages UK
How
Much Can I Borrow with a Self Certifying Mortgage?
Self-certifiying mortgages are intended to solve the affordability problem for people who can't prove their full income and have previously been offered too little by conventional lenders. For example:
-
Salesmen
whose earnings are mostly commission – commission
and bonuses are often ignored by mainstream lenders.
-
Self-employed
people whose accounts are optimised for tax, showing
an apparent profit that is much less than their
income.
- Employed people with their own profitable part-time business
The income multiples for Self-certifiying mortgages are usually the same as for full status mortgages – anything from 2.5x – 4.5x.
Self certifiying mortgages are not designed to be a way of borrowing more than you can afford – they simply allow people to borrow the amount they know they can afford.
Where Can I Get A Self-Certifiying Mortgage?
The self-certification mortgage market is a little more specialised than the mainstream mortgage market, and many of the most competitive specialist lenders do not have a high street presence.
Instead, these lenders deal through approved independent brokers who are able to search the market for the most competitive mortgage for each borrower.
Although there are some high street lenders who offer self-certified mortgages, they are not able to provide the choice of policies offered by the specialist lenders.
To read more on this subject please see the list below or your mortgage guide or your home buying guide
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Read On
What Is A Self-Certification Mortgage?
Aren't Self-Certified Mortgages Only For the Self-Employed?
What Type of Self-Certified Mortgages Are Available?
Aren't the Interest Rates Higher?
How How Much Can I Borrow with a Self Certifying Mortgage?
Where Can I Get A Self-Certifiying Mortgage?
Do I Need To Go Through A Mortgage Broker To Self-Certify?
Latest Best Buy Rates for Self Certification Mortgages
Read On
Interest
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Complete A-Z of mortgage Types
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Choosing
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Different Mortgage Types
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Finding My Mortgage
What are Mortgages in Principle
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UK Home and Mortgage Insurance Guide
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