Credit Crunch Need a Mortgage Self Cert?

The credit crunch has had a huge effect on the mortgage sector and we’ve had many self employed people tell us they need a mortgage self cert but with the credit crunch is it possible?

But first what exactly is a self certification or self cert mortgage? According to the Council of Mortgage Lenders, a self-cert mortgage is "a mortgage where you declare what your income is, but are not required to provide proof".

Well there is absolutely no doubt the credit crunch has resulted in ever tighter lending conditions which in essence has seen a dramatically adverse effect, on the self-certification mortgage or self cert market sector.

However, as many other financial sectors feel the negative fallout from of last years credit crunch, the self-cert mortgage market, is as well placed as any, to avoid any major potential problems.

However we’re still currently at the stage where lenders appear to not want to lend – how bizarre is that? The current situation is still one, whereby lenders are pulling self cert products off the shelf on a daily basis, therefore narrowing the choice to the self employed, contract workers and others who work on a commission only basis.

Given that this is the case we recommend you give self certification specialists at The Bad Credit Mortgage Centre a call, for the latest information to help people like you who need a mortgage self cert product that suits your particular circumstances…