Self Cert Mortgage
Self Cert Mortgages (Self Certifying Mortgages) are a popular choice amongst the self-employed and people with additional incomes that are not recognised by traditional high street banks and building society income multipliers that determine how much you can borrow.
Contact us now about a Self Cert Mortgage
What is a Self Cert Mortgage?
With a Self Cert Mortgage you declare your annual earnings, and in nearly all cases the lender will not require any proof of income. This can be particularly beneficial to people who are self-employed and might struggle to provide high street banks or building societies the detailed accounts they require, or people with additional incomes that are not counted by traditional income multipliers.
Self Cert Remortgage
Consider a person who has recently become self-employed and wants to remortgage onto a fixed rate to stabilise their outgoings whilst they build their business, possibly releasing some equity from their property to fund its growth, or to create a home office.
In this case a self cert remortgage may offer the best solution to their needs.
Multiple Incomes
Many people nowadays have more than one job or more than one source of income. It's a product of the age in which we live, but in some instances high street banks and building societies are not aligned with the times. In these cases, where people's extra or additional incomes are not recognised, a total annual income can be declared to the lender, and in nearly all cases, no proof of income is required.
Thus, the person is able to borrow much nearer to their true earnings level than the banks or building societies are prepared to lend.
Do I Qualify for a Self Cert Mortgage?
Anyone can apply for a Self Cert Mortgage — you don't need to be self-employed or in receipt of multiple incomes in order to qualify.
To find out whether a Self Cert Mortgage is the best choice for you, contact Open Choice Mortgages via the website or by calling 0800 0288 958.
