Self Certification Mortgage Lender

Not so long ago, a self certification mortgage was considered to be quite a niche financial product for lenders but thankfully things have moved on significantly since then.  When picking your lender, it’s vital that you keep in mind that there is inherently some room for negotiation built into this type of mortgage.  One of the main factors of this type of mortgage versus a more standard package is the fact that you probably will be expected to pay a significantly larger deposit.  When negotiating what this might be it’s important that you keep your eye on the larger picture and use this to your advantage.

Also, having your own financial affairs in a clear order will be of a huge help to you.  Apart from being able to produce accounts for the previous years, one of the main things that any potential mortgage lender of this type will be interested in is your profit projections for the coming years.  It’s important that you’re able to lay these out in a fashion that makes sense and that these profit projections do not appear to be too overly optimistic for the coming years.  A mortgage lender will feel far more comfortable with you as a potential client if they feel that your figures are conservative.  Self belief is an integral part of the spirit of any entrepreneur but in this context it’s very important that you present a more pragmatic view of how your business may grow over the coming years.

Even with all of the research in the world, there is still a risk element attached for the mortgage lender and exuding an air of comfort and pragmatism in the figures that you present to them particularly with regard to future projections will definitely stand to you in your search to secure a self certificate mortgage.  Please remember, that a loan provider who specializes in this area will have heard every tall story about potential profits under the sun so probably one of the most fundamental things you can do to help you to secure your loan is to remain quite conservative and realistic about the numbers.