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Self-certification mortgage
often referred to as non-status mortgages, are available to both
the employed, self employed, first time buyers and those with a
bad credit history alike. They have become very popular in recent
years, as working environments and practices have moved away from
the more conventional 9 to 5, and where monthly income may come
from several different sources. Self certification mortgages are
specifically designed for people whose income is difficult to assess
using the standard underwriting criteria used by most mortgage lenders.
Self-certification mortgage allow you to declare your income without having to providing the documentary evidence usually required when applying for a mortgage. As well as the self employed and employed, self certification mortgages may also be applicable to other categories of employment. These could include: employees on short-term or part time contracts; employees who depend upon bonuses or commission for a significant proportion of their income; unsalaried company directors; and low wage earners with other income or material assets upon which they rely for future payment. With Self-certification mortgage there is no need to supply accounts, bank statements, payslips or any other proof of income. Instead the self certification mortgage lender will conduct a credit check and credit score, and in some cases may apply for a lender reference or landlord's reference. The interest rate on self certification mortgages is likely to be a little higher than normal rates. This reflects the extra risk and costs involved in the lender providing a self certification mortgage. A typical deposit is 15% although lower rates are available to those borrowes that can put down a 25% deposit. The minimum deposit required for a self certification mortgage is 10% albeit that only a small number of lenders provide a 90% self certification mortgage. Self certification mortgage are available in all the interest rate options: Variable Rates; Fixed Rates; Capped Rates; Discount Rates; LIBOR Rates; Tracker Rates etc. and for all the different types of mortgage from First Time Buyer to Buy to Let. To find out more about Self-certification mortgage , simply complete either the Callback Request form or the Mortgage Quote form to receive details of the best Self-certification mortgage to suit your individual circumstances. Alternatively call 0800 801079 to speak to a mortgage advisor. 100 Percent mortgage | Discount mortgage rates | First Time Buyer Mortgage | Best fixed rate mortgage uk | Capped rate mortgages | Variable rate mortgages | Flexible mortgage uk | Best Buy to Let Mortgage | Self Certification mortgage | Best Bad Credit Mortgage | Tracker mortgage | Remortgage | Cashback Mortgage | Libor rate mortgage | Lifetime Mortgage uk | Commercial Mortgage Lending | Self Build Home | Independent UK Mortgage Brokers | Mortgage Lenders UK | Mortgage Best Buy | Mortgage Quote Self-certification mortgage (top)
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Your
home may be repossessed if you do not keep up repayments on your
mortgage. |
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1999 - 2004 The Mortgage Warehouse (GB) Ltd |