Self Cert Mortgages UK

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Self Cert Mortgages in the UK- Historical perspective

Historically many people with good self employed and contract incomes were at one time unable to apply for a mortgage. Lenders over time have realised that this was not because they could not afford the repayments but because they insisted on asking for 3 years accounts which did not help those who had been trading for 1 or 2 years. Over recent years a new breed of mortgage product has been created to cater for the ever increasing trend of being self employed.

This type of mortgage grew up in the boom of the 1980's. As mentioned, prior to this 3 years accounts were required in order for a someone to get a mortgage without a traditional full time job. The self cert products now mean that it is possible to get a mortgage if you have been self employed for a very short time. This means that you can apply for a mortgage and at the same time self declare your annual earnings before you have had the opportunity to trade for 3 years.

Self cert mortgages in the UK have become widely available to those who fall into the following categories (our advisers can confirm whether a self cert mortgage is the most suitable option):

Self-employed.
On a short term contract.
On part-time contracts.
On a commission based income, your earnings may be assessed frequently by your employer.
Receiving seasonal wages or earnings.
Receiving more than one source of income.

We at Fee-Saver mortgages can source from the whole of market and have expertise in dealing with self cert mortgages in the UK. Please call us today.

Our qualified advisers will be happy to talk through your requirements with you... Call us now on 0800 0435760 or fill out this online form