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Self Cert Mortgages
Self-certification is a simple way of detailing your income as
you simply self declare what you earn and the lender will not
insist on seeing audited accounts.
This is how a self-cetification mortgages should work, but there
are still some lenders who will need you to prove your income in
other ways, such as an accountant's certificate. This is a
document signed by your accountant to say that your income is
sufficient to service the loan requested. You may also be asked
to produce your business bank statements for a set period so the
lender can look at the gross income you have received.
Most lenders will supplement this information with credit
searches. If you are a home owner, you will be asked to supply
your existing mortgage statements, and if you are renting the
lender will ask for a reference from your landlord.
Self-certification has limits - most lenders will only allow you
to prove your income in this way if you want to borrow less than
75% loan to value, so you will need to put down a substantial
deposit. However, some lenders may allow you borrow up to 85% on
a self-certification basis.
| Self Cert |
Self certification Maximum LTV 90% |
5.2% - 2 years |
More Info |
| Self Cert |
Self certification 85% and below |
5.35% - 31/12/2009 |
More Info |
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