Mortgages & Money   Mortgage Guide

Self-certification mortgages

The self-employed may find it hard to get a mortgage from lenders. However, if you have clear records and a good credit score, you may want to consider a self-certification mortgage. Usually this requires a much larger deposit - around 20 to 40%. Often you will employ an independent broker to find a suitable mortgage, as the process can be complex.

Pros:

  • May be suitable for people with several jobs, as well as the self-employed

Cons:

  • Interest rates will often be higher than for other mortgages
  • Terms and criteria can be very strict
  • Beware brokers who charge a fee on top of their commission

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