Your mortgage may have been the best deal for your circumstances at the time but is it still performing as well as it could?
Buying a house is one of the most important purchases you will make. Buying a home for the first time can be an even more daunting prospect.
Self-certification (self cert) is a simple 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 whose income is difficult to assess using the standard methods adopted by most conventional mortgage lenders. The specialist mortgage lender will be far more accommodating and they appreciate that different working patterns require a more flexible approach.
Self Cert mortgages have become extremely popular with the changes in work practices in the last few decades; especially for those dependent on bonuses for a sizeable portion of their income or workers on short-term or part-time contracts.
Self certification does have its limits though - most mortgage lenders will only allow you to prove your income in this way if you want to borrow less than 75% of the property's value, so you will need to put down a substantial deposit. However, some mortgage lenders may allow you to borrow up to 80% on a self-certification basis.
The overall cost for comparison is 8.4% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration. APR variable and based on a usual case. A typical broker fee is £2100, but this is for a remortgage solution, it incorporates when necessary the solicitor's fees, solicitor's disbursements, our broker fee, processing costs and the property valuation fee, you pay no up-front fees when choosing this payment option.
Your home may be repossessed if you do not keep up repayments on your mortgage.