Self-certified mortgages
Self certification mortgages are designed for both the self-employed and some employed people who find providing proof of all their income difficult.
In these circumstances self-certified mortgages may be the solution for you. Kelly Mortgage Solutions are experts in self certified mortgages and can quickly and easily guide you through the process. You do not have to provide accounts but simply certify that you have sufficient income to service the loan. You could qualify for up to 90% of the purchase price.
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Some self-cert facts
Self-certification is a simple way of detailing your income as you simply self declare what you earn and the lender will not insist on seeing audited accounts.
This is how a self-cetification loan should work, but there are still some lenders who will need you to prove your income in other ways, such as an accountant's certificate. This is a document signed by your accountant to say that your income is sufficient to service the loan requested. You may also be asked to produce your business bank statements for a set period so the lender can look at the gross income you have received.
Most lenders will supplement this information with credit searches. If you are a home owner, you will be asked to supply your existing mortgage statements, and if you are renting the lender will ask for a reference from your landlord.
Self-certification has limits - most lenders will only allow you to prove your income in this way if you want to borrow less than 75% loan to value, so you will need to put down a substantial deposit. However, some lenders may allow you to borrow up to 85% on a self-certification basis.
Whilst self-cert mortgages can provide the ultimate solutions borrowers should be aware that declaring a false or inaccurate income is a criminal offence.
Most lenders reserve the right to ask for proof of income at any time.
For more information about our services or how we are paid see the "Mortgage Solutions Page"
The overall cost for comparison is 7.4% APR : The actual rate available will depend on your circumstances. Ask for a Personalised Illustration
Think carefully before securing other debts against your home. Your property may be repossessed if you do not keep up your repayments on your mortgage or any other debt secured on it.
- Please contact us or call 0800 037 8432 to discuss your self-certified mortgage »
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