Self Certification Mortgage Advice

Self-employed, irregular income or income from multiple sources?

A self certification mortgage is commonly referred to as a non-status mortgage. Non status is available even if you have a poor credit history with defaults, CCJ's or mortgage arrears.

Flexible self-certification mortgages are suited to the self-employed and others in receipt of an income which fluctuates.

Flexible mortgages are also ideal for those who expect to receive large sums over long periods such as contractual workers.

A flexible, self-cert mortgage also allows you to make overpayments, underpayments and payment holidays and sometimes allowing you to withdraw funds in a time of financial instability.

Self Certification Mortgage Rules

If you have been self-employed for less than three years and therefore cannot provide the necessary accounts or you are without a fixed income , you will need to declare your income without proof of accounts.

This process is known as self-certification because you declare your income without an examination of your accounts - "self certifying".

Self certification mortgages require the applicant to make an honest declaration of their actual income. Over inflating your income to obtain a mortgage is mortgage fraud. First Class Mortgage Advice will require evidence of all income declared.

Although self cert mortgages are available they may not represent the most competitive deal and a better rate may be available if you can prove your income.

A self certification mortgage may also suit employees where they have irregular income such as commission payments. This can be problematic with lenders but under self certification your new lender will treat this income the same as standard income.

Self Certification can deter most because it is not readily available through your main stream lenders and some lenders will only lend if you have taken advice from a mortgage professional such as First Class Mortgage Advice.

We can offer you options and choices you can't access on the high street. All income taken into account, tips, bonuses, irregular overtime, commission, part time work and so on, we can make it work for you. As an independent mortgage specialist we act in your best interests to fine the very best mortgage rates and mortgage deals.

Contact us and we’ll make sure you get the best!

 

 

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Mortgages Advice

Mortgages: First Class Mortgage Advice are independent mortgage consultants providing information on getting a mortgage. We are based in Edinburgh and provide services to Glasgow, Edinburgh, Stirling, Perth, Dundee, Aberdeen, Falkirk, Lothian, West Lothian, East Lothian, Midlothian, Scotland and throughout the UK.

To benefit from a range of self certification lenders, lowest rates and deals contact First Class Mortgage Advice today and go from stressed to impressed! Use the online form on the right or complete our comprehensive mortgage enquiry form and enjoy our fast, friendly & personal service.

We will always act in your best interests so whether you are a first time buyer, a home mover or wish to remortgage let us search for your best mortgage options. Call us on 0141 622 6622 os use our online mortgage enquiry form.