Self-certified mortgages enable a person to take out a mortgage without having to prove their income to a mortgage provider. As a rule it is necessary for mortgage applicants to provide pay slips or a regular employers contact details when applying for a mortgage, but many self-employed people do not have sufficient evidence of stable earnings to give to mortgage providers.

Therefore, potential borrowers such as the self-employed find that self-certified mortgages are the perfect solution as they only need to adhere to the declaration that the borrower will be able to repay the mortgage costs. Most people who are considering taking a self-certified mortgage are confident that they have adequate means to repay it, it is simply that they are unable to provide proof of their income. It is still necessary, however, even with a self-certified mortgage to undergo credit checks.

Self-certified mortgages are becoming increasingly popular, not only for self- employed people but for those who have enough funds in their bank to repay their mortgage but have no monthly statements.

Main stream commercial mortgage lenders are apprehensive about offering self-certified mortgages for security reasons, however they can alternatively offer fixed or variable rate mortgages.

Many popular banks such as Santander offer fixed and variable rate mortgages which are classed under the category of self-certification. Here is a list of useful websites which offer services for self certified mortgages.

Alexander Hall London Mortgage Broker – www.alexanderhall.co.uk

Fair Investment – www.fairinvestment.co.uk

Self Cert Mortgage Centre – www.self-cert-mortgage-centre.co.uk

Go Direct – www.godirect.co.uk/mortgages/self-cert-mortgage.php

UK Financial Solutions- www.mwgb.co.uk/mortgages/self_cert_mortgages.html