| Product type |
Self Certification
|
| Pay Rate |
6.49% |
| APR |
7.40% |
| Expiry Period |
3 Years |
| Max LTV |
65% |
| ERC |
4% |
| Arrangement Fee |
£1800 |
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The self certification or Self Cert mortgage is considered when evidence of income is difficult to obtain. In particular people with multiple income sources, cash based or irregular incomes. Some self employed people who do not have certified accounts because their business is quite new, may often consider a self certification mortgage.
In some circumstances the lender does not request proof of income, but asks the applicant to self certify that they earn the income declared in the mortgage application and can afford the repayments.
Most lenders consider this to be a higher risk area of lending and this can be reflected in higher interest rates, lower loan-to-value amounts and early repayment charges
To find out more about this type of mortgage call us on 0845 071 4414