Self Certification Mortgage Advice

Getting the right advice on self certification mortgages is a must.

The fundamentals of a self cert mortgage are clear - the better and more indepth the financial evidence you have the better the rate that should be available to you.

It is also important to be honest about what you earn. Many people see self cert as a great option to getting on to the property ladder, which it is, but if you can't make the repayments, then saying that you earn £50,000 when you don't could land you in hot water further down the line.

A mortgage broker, like Click n go, can access the whole market, which means that they can search around all of the self cert mortgage products to find the right one for you and your income. Your mortgage broker will advise you on what will work for you and what is manageable.

The size of mortgage that you get it up to you and what, ultimately, you can afford. If you have been a self employed electrician for 10 years, then you will be seen as a safer investment than a new actor, however you must be able to demonstrate regular work - regardless of your profession or years on the job. The safer the bet for a mortgage company, the more they will be willing to offer you and the better rate that you will get.

Many mortgage lenders will want to see three years of accounts if you are self employed. Bank statements, payslips etc will also be useful - in short any available information regarding your finances. The more that you have, the better the rate that will be available to you.

Your best bet is to sit down with a mortgage broker and go over what is available so that you understand the market too. Then you can discuss your financial situation and let your mortgage broker get on with the task of finding the right product.