Self Certification Mortgages - Non Status Mortgages

A self certification mortgage is also known as a non-status mortgage. These are aimed at people on short term or part time contracts, or are dependent on bonuses as a segment of their income.

Self Certification mortgages are made for individuals who have an income that is complex to assess in the usual methods that most conventional mortgage lenders use. This allows you to declare your earnings yourself.

If you find yourself relying on bonuses, commission or seasonal work to create your income, then it may mean that you will have difficulties in being considered for a mainstream mortgage loan. You could be one of the many property buyers that could find an ideal mortgage through a specialist, even if you routinely fail credit scoring tests with other mainstream mortgage lenders. Even though the majority of self-certification mortgages are available to self-employed people, they are not only for them.

Self certificated mortgages may be perfect for:

• Borrowers on a low wage but have a family income or inheritance fund
• City workers or others that receive a high annual bonus
• Commission based workers
• Contract workers
• Freelance workers
• People that have a complex system of bonuses and allowances that make conventional documentation of proof of income difficult
• People with more than one income
• People with seasonal earnings
• Unsalaried company directors

Self Certification is a way that the amount a customer can borrow is decided upon how much they claim their income is in a signed declaration within the application form. With this type of mortgage, the customer does not have to prove the amount they earn on the basis of the accounts they can produce.

More choices of Self Certification Mortgages

Even though there are thousands of mortgage products on the market, being self employed, or having an unusual income pattern you may find that it may be difficult getting a mortgage to suit you on the high street. You may be very financially secure but still find it difficult to prove a level of income that will suit mortgage lenders.

Some mortgage lenders have realised the situations people find themselves in whilst wanting to buy property and welcome customers that would benefit from a self certification mortgage. These specialist mortgage lenders appreciate that differences from the normal working pattern involve a more flexible approach.

Some mortgage lenders offer flexible mortgages in order to accommodate changes in the customers' income allowing the customer to declare their own earnings themselves without the need for audited accounts. It is not just be self employed people that can benefit with this self cert mortgage. Employed people who do not want to prove how much they earn by showing payslips or P60 could benefit by arranging a ' Self Cert ' mortgage.

Let us find the Self Cert Mortgage for you

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