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| A
self certification mortgage is a mortgage in which you are able to declare your
income without having to show substantial proof that you earn it. You may want
to consider this type of mortgage if you have difficulty proving your income.
In general most lenders perceive self certification as a greater risk and will
charge a slightly higher interest rate. If you can prove your income then click
here to read about status mortgages. |
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| At
MORTGAGES 4 U LTD we act responsibly and during your application process we will
make sure that you will comfortably be able to afford to repay your new mortgage.
To do this we have access to lenders that will count income from a variety of
sources. |
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You will just need to sign
a declaration confirming the income from all the sources that you tell us about. |
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Employed Self Certification |
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| Most employed
applicants will be able to prove their income by reference to their payslips and
an end-of-year P60. However if you have additional income that is: |
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Seasonal or contract work
- Casual
labour
- Erratic
bonus, commission or overtime payments
- Then
you can apply for a self certified mortgage. You need only declare that you have
the additional income required to be able to repay your mortgage.
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Self Employed Self Certification |
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| Self
certification is expressly designed for the increasing number of self employed
in the UK employment market. If you have a good track record with audited accounts
then you should consider a status mortgage. If one of the following applies to
you then self certification of your income may be better suited to your circumstances: |
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- You
lack three full years of trading accounts.
- Your
current earnings are significantly greater than your accounts can prove.
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| Lenders
are now much more realistic when looking at affordability and will take a balanced
view of both your income and expenditure. Why not enquire now to see how we can
help you? |
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| Warning,
to falsify your income is fraud and could lead to prosecution |
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