Self Cert Mortgages FAQ's

FAQs - Self Cert Mortgages

What is a self cert mortgage?
Self cert is short for self certification, which means that the borrower has no regular salary and therefore "declares" their average income. This may be necessary when the borrower is self employed, a company director or paid on a contract or commission basis, for example. The lender usually covers the increased risk by demanding a larger deposit and slightly higher interest rates.

How much should I declare when I apply for a self cert mortgage?
You are not required to provide documentary evidence of your income, but the mortgage lender will check your credit history and may verify the information you give. However, the income you declare is often less important than the deposit you can put down.

What percentage of the value of the property will I be expected to pay as a deposit?
Deposits usually start at 10%, but subject to your status and credit record, some mortgage brokers will lend up to 95% of the property.

Can I get a self cert mortgage even if I have bad credit?
Yes, it is possible, but the kind of deal you can get will depend very much on your circumstances. Speak to one of our advisors to find out more.

How can you help?
We are experienced in helping people find self cert mortgages and have an in-depth understanding of this growing market. Start by filling out the above form to get a clearer picture of what you might be expected to pay, then give us a call to find out more.

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The Mortgage Broker – Call us on 0800 822 3355