Self Certification
mortgage glossary
Is where a borrower discloses their income but the lender does not need full confirmation. I.e. they don't need to see 3 years accounts for self employed or an employers deference and payslips if employed.
Most often this is a mortgage where people sign to say that they can afford the payments.
Useful for self employed people in their first years of trading, or people that have just taken on a new job.
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