Self Certification

Advantages Of A Self Cert' Mortgage
Just like Expatriate mortgages do for expatriates, Self-certification mortgages also give a distinct group of people the chance of obtaining a mortgage when the usual channels are not open to them. In the case of Self-certification mortgages it is those people who cannot readily prove with documentation what their income is, or who simply don’t want to. For these people the avenue of a standard high street mortgage is not available and therefore the advantage is obvious. It enables the purchase of a home by people who couldn’t otherwise do so.
For instance if your profession means that you are paid on a commission only basis it will be very hard to get any other kind of mortgage.

Portable Solutions
Self-certification mortgages are often easier to move from property to property and are considered more portable than other mortgages in many instances and that in itself can be an advantage.

Seasonal workers will normally find it difficult to get a mortgage as they may have no visible earnings for parts of the year. They may be perfectly able to make monthly repayments but their lack of documentation will prevent them from taking out a standard mortgage. Once again this is where a self-cert mortgage can meet their needs. By simply signing a declaration that they are able to make the regular payments a seasonal worker should be able to obtain a self-cert mortgage and purchase their property.
The same is true for all types of self-employed and sole traders such as freelance contractors. Even though they may be being paid at a higher rate than their fully employed colleagues the nature of their employment will mean that a self-cert mortgage is the only option open to them.

All in all the self-cert mortgage offers the advantage of house ownership where any other type of mortgage will not be available.