Mortgage Meadow / Mortgages / Credit Repair Self Cert Mortgages

Self-certified or self-certification mortgages are designed for people whose income may be difficult to assess using the standard underwriting procedures that many banks or building societies use.

Self-certified mortgages have become more popular as working habits have changed, especially where income is from several sources. Getting a mortgage where you cannot demonstrate a set regular monthly income, can be difficult, especially when you have suffered from credit problems in the past, or have little or no credit history. There are nearly 4 million self employed people in the UK and this figure is on the rise (Source: The Treasury 2005). The majority of these people will require credit at some point and some may not be able to prove their income by the normal means used by lenders. Many of these people will then have a need for a self certified credit repair mortgage.

As well as for the self-employed, self-certification credit repair mortgages can be particularly relevant to those on short or long-term contracts, part-time workers, employees whose earnings are commission or bonus based, freelance workers and seasonal workers. For those who have had problems maintaining credit in the past, please remember you are not alone. There are many lifestyle events that occur to people every day that change their ability to maintain credit. This can include divorce, loss of a job, or a serious illness that prevents you from working for a prolonged period of time. These events, coupled with the fact that personal debt in the United Kingdom is at record levels, mean it has become common to find people with poor credit histories who struggle to arrange a mortgage.

At Mortgage Meadow we are experts, so we can find you the most suitable self certification credit repair mortgage for your circumstances; including mortgages for people with:

    • Mortgage or loan arrears
    • Credit or store card missed payments
    • Repossessed Properties
    • Discharged bankruptcies
    • County Court Judgments (CCJs)
    • Defaults
    • Individual Voluntary Arrangements (IVA)
    • Little or no credit history

It is important to remember that by meeting the repayments of a self certified credit repair mortgage, you will improve your credit history, provided you have not accumulated additional debt problems. This will make it easier for you to secure credit in the future and at lower interest rates.

At Mortgage Meadow we have strong links with a large number of lenders putting you in a better position to secure a self certification credit repair mortgage than by you searching the market alone. We can talk through deals with the decision-makers in person and explain to them your situation. Having this relationship with lenders means that they can take an individual view on your particular circumstances and are more likely to agree the loan as a result.

For more information on self certification credit repair mortgages, please speak to one of our advisors now. Alternatively if you require some advice on dealing with debt, please visit our online help area, which contains relevant links to some of the UK's best debt advice charities. Our online help area also contains a wealth of information on self certification.

Remember think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage