A self certification mortgage means you are able to declare your income without having to show substantial proof of your earnings. You may want to consider this type of mortgage if you have difficulty proving your income or if you have income from more than one source. In general most lenders perceive self certification as a greater risk and will charge a slightly higher interest rate.

You will need to sign a declaration confirming the income from all the sources that you tell us about.

Employed Self Certification.

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:-

• 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.

Self Employed Self Certification.

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:

• You lack three full years of trading accounts.
• Your current earnings are significantly greater than your accounts can prove.
• You only have a minimum trading period 3 months.

Lenders are now much more realistic when looking at affordability and will take a balanced view of both your income and expenditure. Lenders will lend up to 95% subject to status.

Why not enquire now to see how we can help you?