Self Certification Mortgages
Self certified mortgage were developed for those people who could not prove their income. The majority of people in the UK can back up their financial situation by providing evidence like bank statements, accounts or pay slips. However there is a section of society like the self employed, freelancers, contractors and some employed people whose income is irregular and as such may struggle to prove their income under the traditional lending criteria set by banks and building societies.
On a self cert mortgage the borrower will be expected to be honest when declaring their earnings and will have to sign a declaration to say the information they have submitted is true. Because they lender is asking for less evidence of earnings, and therefore is taking a greater risk the interest rate will be higher than that of a standard full status mortgage. However in the right circumstances self cert mortgages can be the best way forward and should not be discounted if your personal circumstances fit the criteria.
At North Mortgages our Mortgage Experts will take care of everything on your behalf. Remember, we source mortgages from the whole of the market, so you know your getting the best deals available and all tailored to suit your personal circumstances.
Call NOW on: 08000 949 595 or contact us today to arrange a Call Back.
The overall cost for comparison is 8.2% APR. Actual rate available will depend upon your circumstances. Please ask for a personalised illustration . Rate correct as of 27/03/2008
