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 They were withdrawn from the market by the Financial Conduct Authority in 2014, because they were considered not suitable for the general market and presented a risk to the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 2018and the types of mortgages available on our mortgage page for self-employed workers.
What is a mortgage adviser?
The mortgage advisor for self-certification mortgagesis 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.
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