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Self Certified Mortgage
Self-certification (self cert) is a way of detailing your income without having to provide proof of income - you simply self declare what you earn.
Self Cert mortgages are designed for people who can afford the monthly mortgage payments, but whose income is difficult to assess using the standard methods adopted by most conventional mortgage lenders. These people could be Self Employed with no accounts, employed who are dependent on bonuses for a sizeable portion of their income or workers on short-term or part-time contracts. The lenders appreciate that different working patterns require a more flexible approach.
Self certification does have its limits though – you may have to put down a lerger deposit and, in some circumstances, pay a slightly higher interest rate.
If you are unsure how to prove your income a Self Cert mortgage could be right for you. Please call for more information and the latest self cert mortgage rates.
Overall cost for comparison is 8.2% APR. Actual rate will depend upon your circumstances. Please ask for a personalised illustration.Rate correct as at 27/03/2008.
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