Self Certified

Many self-employed people are earning big money. But, if they want to buy a home, they are likely to come across a big stumbling block - standard mortgage lenders tend to be extremely suspicious of anyone who cannot prove their earnings via pay slips.

A self-certification mortgage is a mortgage offered on the basis of you stating what your likely income will be, rather than providing documentary evidence. But you may have to ask an accountant to back up your statement. If you have more than two - and, in many cases, three years' worth of accounts, then you should be able to apply for a standard mortgage.

You will find that because of the enhanced risk to the lender you will in return be asked to pay an enhanced interest rate.