Self Certified Mortgage

If income is not as predictable as it is for a salaried employee (such as for a company director, contract worker or part time worker), the borrower can take out a Self certified mortgage. In the past you would have been required to make a statement of income but the lender did not require you to provide proof. This type of mortgage has for all practical purposes disappeared, with the introduction of new regulations which place the onus on lenders to ensure a mortgage is affordable. In order to do this lenders will always need to see proff of income. The self certified mortgage was sometimes confused with a self employed mortgage.

What to do if you need more help

If you need more help with your specific commercial loan, mortgage or insurance requirement please speak to a professional financial adviser.

We hope you found this information useful.

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