Best Self Cert Mortgage

Because a self cert mortgage is considered to be somewhat of a niche financial product within the mortgage industry, finding a good general mortgage lender who is also the best option for this type of product are not necessarily one of the same thing.  Generally, the most fundamental difference between this type of product and a standard mortgages is the fact that you will have to pay a larger deposit so it’s very important to bear this in mind when you’re putting your figures together.  Also, some mortgage providers would try to give the impression that because this is an off the beaten track product that it should in actual fact be more expensive to the end consumer.  This is simply not the case.  It’s very important for you to remember that the reason that you’re looking at this kind of mortgage is because your circumstances are different and not because they are worse. The basic idea behind a self certificate mortgage is to offset any potential difficulties with being able to produce proof of income that the mortgage lenders are happy with.

You’re in a very different scenario from a subprime mortgage candidate. You always need to bear this in mind and make sure that you don’t allow any potential mortgage lender to get you in the mindset that they are really doing you a favor because this is simply not the case.

We’re not going to recommend any specific broker or company to provide do-it-yourself certificate mortgage loan here but rather what we would like to do is point out some of the fundamental aspects of the type of deal that you will be entering into. Often times, the best mortgage provider for one person is not  the best for the next and a lot of this will depend on your circumstances.  Because of the type of mortgage you will be entering into there will be as certain level of negotiation with regards to exactly how much the deposit is and some of the terms and conditions that will apply.  But this wiggle room will only be of use to you if you have all your figures completely in order before you even think about making a mortgage loan application.

Invariably, the best mortgage is the one that you can repay comfortably even if your short-term financial circumstances turn out to be more negative than you would hope for.  It’s extremely important to bear this in mind when you’re putting your figures together and the fact that you will be able to mention that you have taken these types of potential factors into account to the mortgage company will also stand you in good stead.