Ten years ago if you were self employed you were very limited to the deals that were available to you. Lenders tended not to like it if you couldnt prove you income when apply for a secured loan or mortgage.
Things have changed, because they have had to. With more and more people starting their own business and companies opting to contract staff on a self employed basis, lenders have had to change policies. Now many more lenders have had no choice but to offer self certification loans and mortgages in order to service more customers.
With a self certification product you can state your income without having to provide payslips. Such loan and mortgage products are available with specialist and some high street lenders.
The hook is that with a self cert loan you will normally have to pay lager deposit and slightly higher interest rates than a standard borrow would. You should also be prepared to incur slightly higher fees as well.
Different lenders will have different criteria. Some will be more concerned about affordability, others with job title and credit history others will require accounts, accountants letter or bank statements.
Whether you...
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