Self Cert Mortgages
Self Cert Mortgages
Mortgages for people who can't prove their income: At Enable Finance we understand that not everyone has a fixed income or regular pay and company accounts are not a true indication of your income, that why we have a suite of mortgages for the self employed, freelance consultant or contractor worker who can't prove incomes so easily.
- No Proof of Income
- Non Status
- Up to 90% of valuation
- No Upper Age Limit
- New start Business Owners
- No Accountant Required
- All Credit Circumstances Considered
What is Self Certification?
A self certification mortgage is a mortgage product that has been specifically designed and priced to allow for the borrower not to prove their income by way of traditional means such as computerised pay slips of P60. For all intents and purposes the self cert mortgage performs exactly the same as any other mortgage in that it’s a long term loan secured against property which can be paid off over time. The “self cert” element is the declaration from the borrower signing and stating that they can afford the loan and the income stated is true and an accurate reflection.
Who is eligible for a Self Certification Mortgage?
This question is not easily answered in fact there is no straight line approach which is where Enable Finance your mortgage broker will help. There are however, some typical examples that will help you understand the need for self certification mortgage products. E.g. “John” newly self employed, in fact only been trading as a chauffeur / taxi driver for the past 3 months, however, previous to that worked on the books for 2 years for another firm. John now has the opportunity to expand his business but needs to remortgage to raising capital to buy a new 7 seat people carrier so that he can do profitable airports drop offs. There are hundreds of these types of scenarios that could be eligible, why not talk to us about yours, call free on 0800 3161612 or enquire on line
Why are Self cert Mortgages Important?
According to figures from the Financial Services Authority self certification accounts for between 6-7% of the mortgage lending market and with £1.2 trillion lent the self cert mark is massive. Without self certifcication mortgages it could be argued that alot of the self employed or small to medium sized business owners that can't readily prove their income may struggle to get a mortgage. If you want to talk to an advisor about a self cert mortgage simple enquire online or call free
"Company Director, need to complete quickly on a purchase, however, the company accounts had not been finanalised. Enable Finance completed the self cert mortgage in 3 weeks"
"Husband & Wife team running their web business from home saw a new property with land and stables, Enable Finance produced the Mortgage Offer in 16 days"
"A self employed property developer, had an opportunity but needed to move quickly Enable Finance completed a re-mortgage in 18 days"
Other types self certification mortgage finance
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