If you are self-employed or your income is heavily based on commissions or bonuses, a self-certification ("self-cert") mortgage may be just what you need. This type of mortgage is perfect if your income is hard to prove.

Do you qualify?

Self-cert is available to self-employed and PAYE applicants, sometimes with no Higher Lending Charge - some lenders don't make a Higher Lending Charge even on the highest 90% mortgages. FM2 are able to source base-rate-linked tracker self-cert mortgages.

Flexibility too!

Some self-cert mortgages include flexible payment options which allow you to overpay, reducing the payment period and allowing you to build up equity more quickly. With these schemes, provided the LTV remains below 90%, overpayments can be used to fund payment holidays ("mortgage breaks"), underpayments, cash withdrawals or simply to enjoy tax-efficient savings.

Self-certification mortgages include a wide range of different schemes including fixed and discounted variable rates. The maximum loan is usually 90%.

Special conditions are sometimes applied to self-cert mortgages, and it is usually recommended that you get expert advice for this type of loan. To understand the risks and featuires of this kind of arrangement, ask for a personalised illustration