Self Certification Mortgages - What Is A Self Certification Mortgage & Who Are They For?

So what is a self certifiaction mortgage exactly? Well a self certification mortgage is for when a borrower wants to take out a mortgage and cannot prove their income, show accounts or bank statements and instead tells the mortgage provider how much they are earning and signs a declaration confirming that they can repay the self certification mortgage. Self certification mortgages are more expensive than standard mortgages (i.e. the interest you pay is higher) so if you are thinking of getting a self certification mortgage you will need to bear this in mind.

Self certification mortgage are mainly for self employed people or other people who have difficulty proving their income to mortgage providers.