Self certified remortgage

As self cert mortgage deals become a thing of the past many self employed people are left wondering what they can do to improve their chances to remortgage.

Applications for self certified remortgage deals were quite straight forward in the years leading up to 2008. There was a wide range choice available with many mortgage lenders offering self certification mortgage products, where no proof of income was required by the lender.

While self certified remortgage deals offered by lenders are disappearing, self employed people can still get a mortgage without necessarily having to provide accounts from an accountant. If you are self employed and don’t think you can get a mortgage or remortgage it is always worth talking to an expert mortgage adviser.

Mortgage lenders have adapted and for self employed people other forms of income can be included in a mortgage application such as tax credits, working family tax credits or child benefit payments etc.

Self certified remortgages can be a huge help to self-employed borrowers. But experts warn that self-cert deals can be controversial. They don’t suit every borrower and if you don’t know exactly what you are signing up to you may face some serious problems later on. Self cert mortgage deals are disappearing and contacting a mortgage adviser will enable self employed borrowers to find the best deal for their circumstance.