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Self cert mortgages, are one form of mortgage loans (just as interest only mortgages are one kind) wherein you yourself declare or certify your income level. You are not then compelled or directed to provide any customary documentation and also any payslips or any other types of documents and statements in order to prove your income.

These self declaration mortgages, or self cert mortgages, were created in order to facilitate anyone who has a difficult time giving any evidence of their incomes, or those who have uneven work plans, or who have bonuses, compensation and other payments which are periodic and quite hard to track in order to help them guarantee a mortgage. The type of people who will benefit well from self declaration mortgages are those individuals who are self employed or those who have not been in profession for at least 3 years, or those who have not or cannot produce any audit accounts for the past 3 years.

So, if you are a person whose earnings changes from time-to-time, for example in the case of sales employees, or those employees who get a substantial part of their income from commissions and perks, then this type of home mortgage loan type will be the most apt for you. Bear in mind too that you are not required to be independent to apply for self cert mortgages. Self cert mortgages are open to both working and self-employed people.

The only drawback with self cert mortgages is the fact that their interest charges will most likely be higher. But, except that, self cert mortgages act just like other conventional types of loans. They are also readily available, and that lenders who present self cert mortgages have developed all throughout the years.

If you are freelancer, and as I’ve said, one whose earnings rises and falls, then self certification mortgages are the best types of mortgages for you at hand.