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Self - Certification Mortgages and Their Desirability
(presented by www.refinance-refinance.net - mortgage lenders)



By Richard Pettinger

A self-certification mortgage is basically a mortgage for those who cannot prove their income. Instead of proving their income borrowers state what their income is likely to be. A mortgage is then given on this basis. However a mortgage dealer may need evidence of accounts and bank statements to back up the claims, made by a potential borrower. Because of the risk attached in a self-certification mortgage they often attract a higher interest rates. Also to get a self-certification mortgage, it is usually necessary to give a bigger deposit. However if you can have put down a 25% deposit then the rates may become more competitive and only a little more expensive than a standard mortgage.

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Self-Certification mortgages are good for those who are self employed and don

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This entry was posted on Friday, November 17th, 2006 at 3:10 am and is filed under Refinance. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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