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Mortgage glossary

Self cert mortgages

Self certification mortgages (self cert mortgages) are loans secured against the value of a property.

They differ from traditional mortgages in that they are available for contract workers and self-employed people. The person taking out a self cert mortgage will certify themselves how much they earn. The self cert mortgage lender will ask for details of how much the applicant earns, but will not require proof of total earnings.

Since applicants are not providing bank statements or pay slips to prove their income, and the lender is therefore relying on a signature, self cert mortgages often charge higher rates of interest than standard mortgage deals.


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