Self Employed Mortgage

Search for the Best Self Certification Mortgage Deal in the UK

Many of the mainstream lenders are happy to lend to the self employed based on the last few years audited accounts and/or tax returns. However in reality this is difficult, especially for those who have been self employed only a short time. Additionally there is a potential conflict of interest with a good accountant wanting to reduce self-employed profits to reduce tax but borrower's wanting to increase profits to secure a larger mortgage.

The declared profits/income are often much less than reality. Additionally many mainstream lenders see the self-employed as being more risky to lend to. This has led to specialist lenders offering self certification (self cert) mortgages to the self-employed and other people who have irregular income or find it difficult to prove their income.

Self cert lenders will lend based on stated income, bank references and/or past history with previous lenders or landlords. In view of the additional risks involved self cert lenders will normally charge a slightly higher interest rate than high street lenders. Many deals are only available through mortgage brokers.

To search for the best self certification mortgage deal in the UK click here.

Your home may be repossessed if you do not keep up repayments on your mortgage. Memigo Money provides information but does not sell or provide advice on mortgages or their suitability. There may be a fee for mortgage advice; the precise amount depends on your circumstances.

For adverse credit mortgages the overall cost for comparison will vary, the actual rate available will depend upon your circumstances. Ask for a personalised illustration.

Get a Quote