Welcome to Self Cert Mortgage Manchester
What is a self cert mortgage
This type of arrangement is ideal for the self employed client, those who have more than one source of income, or those paid with a high element of commission or bonus. Available to both employed and self employed applicants. There are also a range of deals available for clients with a poor credit history. To be clear, a self certified mortgage means that you state, but do not have to prove, your income. No wage slips or accounts will be required. 'Self certified' mortgages should not be confused with the more common 'fast track' mortgages where the Lender does not usually ask for proof of income but reserves the right to do so.
The depressed mortgage market has made it alot harder for people to find a self cert mortgage in Manchester as alot of lenders such as Mortgage PLC, MBS Lending, Southern Pacfic, GMAC and a host of other lenders have currently pulled out of the self certification mortgage market. However it is not all doom and gloom as self cert mortgage Manchesterstill have access to lenders that are lending and we are experts in placing self cert mortgage. if we cant help then no one can.
If you're looking for a self cert mortgage in Manchester you may already have checked your credit rating, this would be a sensible move to make, so you can see what lenders will see when you apply for a self cert mortgage. This File holds alot of information that will affect the success of your application for a self cert mortgage. These details may affect how your application is scored by an adverse remortgage lender. At self cert mortgage Manchester we can credit search you and use this information to find you an appropriate mortgage lender.
Self cert mortgage lenders will expect applicants to have a combination of mortgage/rent arrears or defaults on existing loans or rent, County Court Judgements, individual voluntary arrangements (IVAs).
A self cert mortgage is considered to be somewhat of a niche product within the mortgage industry, finding a good lender is critical. One of the most important differences between this type of product and a standard mortgage product is the fact that you will possibly have to pay a larger deposit so bear this in mind when you’re putting your figures together. Also, some lenders give the impression that because this is a non standard type of mortgage product, it should in actual fact be more expensive to you the consumer. This is simply not the case. It’s very important for you to remember that the reason that you’re looking for a self cert mortgage in Manchester is because your circumstances are different and not because they are worse. The basic idea behind a self cert mortgage is to offset any potential difficulties with being able to produce proof of income that the mortgage lenders are happy with.
With a self cert mortgage, You’re in a very different scenario from a subprime mortgage applicant. You need to bear this in mind and make sure that you don’t allow any potential mortgage lender to get you thinking that they are really doing you a favor because this is simply not the case.
We’re not going to recommend any specific broker or company to provide a self cert mortgage in Manchester what we would like to do is point out some of the key facts of the type of deal that you will be entering into. Often times, the best mortgage provider for one person is not the best for the next and a lot of this will depend on your circumstances. Because of the type of self cert mortgage you will be entering into there will be as certain level of negotiation with regards to exactly how much of a deposit that is required and terms and conditions that will apply.
Invariably, the best self cert mortgage is the one that you can repay comfortably in the short to long-term no matter what your financial circumstances. It’s extremely important to bear this in mind when you’re putting your figures together.