Self Certified Mortgages

Self Certified Mortgages!
Self certified mortgages do not exist (in the form we knew pre 2007)

But there are alternative solutions.

Many people believe they need self cert mortgages when one of the following situations may apply

  • We have a lender who could lend up to 6 or 7 times your income

  • We have a lender who will include your state benefits

  • We have a lender who will take just one year”s accounts

  • We have a lender who will accept additional income

  • We have a lender who will accept 4 applicants

If you are over 55 there are other solutions that do not require any income.

When a new mortgage is either not available or the best solution, these alternatives may be your answer.

Type Typical Uses
Short Term Lending Used to fund a new purchase before an existing property has been sold.  Typically term up to 18 months
Bridging Used to fund a new  purchase before an existing property has been sold.  Typically terms up to 6 months.
Secured Lending Similar to a mortgage but via a secured locan company rather than a bank or building society.  Higher rates but more flexible acceptance conditions.
Second Charge Lending As secured lending but in addition to an existing mortgage
Unsecured Lending Higher rates than secured but the ability to borrow without security.  Can be used to fund a deposit.

It may now be the case that you have accounts for the last years if these figs are satisfactory we can remortgage you with a new main stream lender at high Street rates..

ToB

Saxon Fin Licence logo.2