What was a self-certification or mortgage self-certification?
Self-certification
mortgages, also known as Self
cert mortgage, allowed people to
apply for loans without having to prove their income. They were withdrawn from
the market by the Financial Conduct Authority in 2014, because they were
considered not suitable for the general market and presented a risk to the
consumer.
However,
the fact that self-certification mortgages are no longer available does not
necessarily mean that it is really difficult for people who are self-employed
to obtain a mortgage. As long as you can prove your income as a self-employed
person in theory, you have access to the same range of mortgage products as
everyone else. Get more information about the paperwork you will normally need for
Self cert mortgages 2018
and the types of mortgages available on our mortgage page for self-employed
workers.
What is a mortgage adviser?
The
mortgage advisor for self-certification
mortgages is the professional specialized in information and negotiation of
mortgage loans that has the mission to help the search of the ideal mortgage
for each buyer. They are professionals with legal and financial training,
usually lawyers or economists, with experience in the financial or mortgage
market. There is a difference between the mortgage adviser, who only
advises the client on the conditions of the mortgages, and the intermediary or
mortgage broker who also manages the mortgage with the banks. The mortgage
broker is a figure with a long tradition in countries such as the United
Kingdom, Germany or France, but the presence of the professional broker is more
recent, although it has been from the mortgage crisis when they have
experienced an increase in their activity.
The
distrust of customers towards banks as a result of the abusive clauses of
mortgages, together with the complexity of financial products and the
difficulty of the procedures required for the signature of the mortgage have
contributed to the rise of the figure of the adviser mortgage
These
are some of the activities and characteristics of a professional Mortgage
Advisor:
°
He is a specialist in mortgage issues. Know in detail each product that
you manage, its conditions and requirements.
°
It accompanies you from beginning to end in the entire process and application
for financing. It not only integrates your file and enters it into the bank;
it also solves any doubt during the process, keeps you informed of each stage
and accompanies you to the signing of your deeds.
°
It is objective. Work with the main banks in the country, which allows you
to be objective when giving you credit options, because it is based on your
profile and current needs.
°
Free service: professional mortgage
advisor does not charge for your advice, since your fee will be paid by the
bank you have chosen.
It
is always important to inform you, analyze options and verify everything that
this great decision entails, that is why approaching specialists is an
excellent option; if you are interested self-certification mortgages then best
way is get in touch with advisor.