Self Certification Mortgage

Self-certification mortgages are available for those who have difficulty in proving their income using the traditional forms accepted by lenders (payslips, p60’s, audited accounts).

You should be aware that the number of lenders offering self-cert deals is limited and you are likely to pay a higher interest rate for these products.

As professional Mortgage Advisors, Select Mortgage Solutions will carry out a full assessment of your affordability and your ability to service the mortgage, so you can have peace of mind that you’ll have the best possible deal for your circumstances.

Self Cert mortgages are designed for people whose income is difficult to assess using the standard methods adopted by most conventional mortgage lenders. The specialist mortgage lender will be far more accommodating and they appreciate that different working patterns require a more flexible approach.

Self Cert mortgages have become extremely popular with the changes in work practices in the last few decades; especially for those dependent on irregular earnings for a sizeable portion of their income or workers on short-term or part-time contracts.

Self certification does have its limits though - most mortgage lenders will only allow you to prove your income in this way if you want to borrow less than 75% of the property's value, so you will need to put down a substantial deposit. However, some mortgage lenders may allow you to borrow up to 85% on a self-certification basis.

Your home may be repossessed if you do not keep up repayments on your mortgage.