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Deposits
Self cert mortgages, deposits, mortgage lenders and latest information on self certification mortgages and loans available. The amount necessary to pay as a deposit on your mortgage will vary from lender to lender. Some lenders will increase their controls if you want to borrow more a high percentage of the purchase price. You may also find that many lenders will ask for a higher deposit here as you are perceived as being a higher risk. In 2011 many self cert mortgages have been taken off the market so they are in short supply and often only available via mortgage brokers.
Be Honest
People often exaggerate their income to borrow higher amounts via a self certification product. Lenders will check your requirements so it is recommended that you are honest here and use your common sense. Some lenders will not actually allow first-time buyers to take out a self certification mortgage or will insist that they put down higher deposits to show their commitment.
Alternatives to Self Cert
Many flexible mortgage providers are targeting those in need of self certification, so this might be an option for you. It's always worthwhile talking to a mainstream mortgage provider first just to check whether you could meet their criteria and get a standard deal.
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Self Cert Mortgages
