Jason Bailey

Expertly compared by Jason Bailey

Products Updated October 18, 2021

 

Self Certification Mortgages

Self certification or none status mortgages as they were once known are no longer available. If you are self employed and required a mortgage you will now need to show proof of income and income of your income and expenses. Our experts can help find you a great deal from across the marketplace.

 

Free mortgage advice and brokerage service. Our experts can find you the perfect deal from thousands of products & exclusive deals:

Your home may be repossessed if you do not keep up repayments on your mortgage.

Results:1 providers expertly compared:

Lending Expert

Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

LTV
60% - 100%

Initial Rate
1.19% - 4.32%

Standard Rate (SVR)
3.94% - 4.79%

APRC
3.6%

Type
Variable & 3 ,5 & 10 Fixed Rate

Rated 4.9/ 5

All credit types

The mortgage experts at First Choice Finance can quickly assess your requirements and search the market place to find you the perfect mortgage deal. Click get a quote to make an enquiry today.

Read our customer and visitor reviews for this product:

Rating: 4 / 5 with 2 votes

Simple application process

by K Wheeler

Simple application process - broker was kind and offered advice.

Quick search

by James Hilton

This is a quick mortgage search facility and shows many lenders across the market. Impressed with the level of detail on each product.

Start Your Alternative to a Self-Certification Mortgage Application Today With Lending Expert!

Self-Certification mortgages, as they were known, ceased to exist in 2014. These mortgages allowed you to apply for a mortgage without having to prove your income on your paperwork. Lenders took your word for how much money you made and you were almost guaranteed acceptance. 

This type of mortgage was often used by those who were self-employed like a freelancer or a contractor where income could vary and sometimes it could be difficult to provide proof of a steady income.

Of course, this type of mortgage ran into many problems and encouraged unlawful business in the mortgage world. They often also had extremely high interest rates. That is why in 2014 these were stopped by the Financial Conduct Authority (FCA). 

However, if you are having trouble proving your income or you are worried that your income is too low to be accepted for a mortgage there are still alternatives available to you when looking to get a mortgage. 

Moreover, if you are still on a self-certification mortgage, it is wise that you begin to look to remortgage to a different kind of deal that will offer you lower interest rates and better peace of mind. 

Before taking out any type of mortgage, make sure to share the objectives with your mortgage advisor so that you can ensure that the mortgage suitably meets your requirements.

Lending Expert is a mortgage broker and can compare over 1,000 alternatives to self-certification mortgages and deals across the UK. Whilst high street banks will typically offer these alternative mortgages too, we can help find the best option for you with rates from 1.39% per month, whether you are looking for interest only, fixed, variable, tracker or have a bad credit history.

Start by clicking on ‘Check my Eligibility’ below and enter some basic details about you and your property – and Lending Expert will be able to help you find the best alternative to a self-certification mortgage according to your requirements. 

 

Key Features 

  • There are many alternatives available to self-certification mortgages
  • Rates from 1.39% per month
  • Borrow up to £2 million
  • Loan Term – 1 to 25 years or upon request
  • Deposits of between 5% to 40%
  • Interest only, fixed, tracker mortgages available
  • Free tool to compare alternatives to self-certification mortgages

 

What Is a Self-Certification Mortgage?

Self-Certification mortgages were mortgage deals that were aimed at people who were unable to provide proof of their income. 

This was mainly used by people who were self-employed, including freelancers, contractors and others with a non-regular way of income. Lenders believed this to be a high-risk mortgage deal and therefore self-certification mortgages would have high interest rates.

Sometimes this was the only way that these people could get a mortgage, on the mortgage application you would declare your own earnings without having to back this up with evidence. Lenders would believe the customer and would almost always accept applicants.

 

Are Self-Certification Mortgages Still Available?

Self-Certification mortgages are no longer available in the United Kingdom. The nature of the mortgage meant that unlawful and unaffordable mortgages were being handed out by lenders because they believed everything the applicant said about their earnings. 

In 2009, the Financial Conduct Authority (FCA) banned self-certification mortgages as they said that all lenders must carry out a creditworthiness assessment of every mortgage applicant. 

Although self-certification mortgages have been available for a long time now in the UK, there are many alternatives for those who are self-employed or have bad credit.

 

 

What Are the Best Alternatives to a Self-Certification Mortgage?

The best way to find an alternative to self-certification mortgages is by talking to Lending Expert, a qualified expert mortgage broker. They can help you find the best mortgage for your financial situation. 

If you do not have a regular income or have bad credit, then you can still get a mortgage. Read Lending Expert’s page on self-employed mortgages to find the best mortgages for you. 

Or look at deals such as the Help to Buy scheme and other government schemes that can help people get on the property ladder without having saved tens of thousands. 

Mortgages that might be a good alternative to a self-certification mortgage include: 

No matter your financial situation, compare the best mortgage deals for you with Lending Expert to find a mortgage that works for you! 

 

Should I Remortgage My Self-Certification Mortgage?

If you still have your self-certification mortgage from before 2009, then it may be time to think about remortgaging and finding a better deal. 

It is definitely possible to remortgage. You could switch to a deal with lower interest rates that’s better for your financial circumstances. 

You would need to provide proof of income this time, but if your circumstances have changed since you first took out the mortgage then use Lending Expert to find the best new mortgage deal for you. 

 

Will Self-Certification Mortgages Return?

It is highly unlikely that self-certification mortgages will return, especially in their previous form. They were removed because lenders were using them to provide unlawful mortgages and the FCA rightly removed them from the market. 

However, there are always new flexible alternative mortgages that are brought to the market and with Lending Expert you can find the best alternative to a self-certification mortgage for your needs. 

 

How Do I Compare Self-Certification Alternative Mortgage Rates?

Working with a mortgage broker such as Lending Expert will help you find the best mortgage to suit your circumstances without impacting your credit rating.

Contact us today to speak to an expert and start comparing self-certification alternative mortgages to find the best option for you.

 

What Areas of the UK Does Lending Expert Cover as a Mortgage Broker for Self-Certification Alternatives?

We proudly offer these alternative mortgages across the entire UK, Scotland and Wales including Birmingham, Brighton, Bristol, Cardiff, Edinburgh, Glasgow, Leeds, Liverpool, London, Manchester, Nottingham, Newcastle, Sheffield and more.

 

Why Use Lending Expert As Your Mortgage Broker?

Working with a number of high street banks and specialist mortgage lenders, Lending Expert has access to over 1,000 mortgage deals available and is in the perfect position to help you get approved and get the best rates.

Our eligibility checker is completely free to use and can provide an indicative quote, with no obligation. 

Founded in 2013, we have years of experience working in the secured loan and mortgage market and have helped thousands of customers to date. Our values have always been to find the right product for the right individual at the competitive rate – and we are pleased to offer our services for you today!