People missing out on Self-certificate mortgage deals

15/05/2007

Many people in the UK who are self-employed could be losing out on a great mortgage deal simply because they do not fully understand the mortgages speciality.

Mortgage Express concluded that 71 per cent of self-employed people also income workers (secondary) when questioned, admitted that they did not understand these mortgage products.

Nearly 50 per cent of people stated that they had no understanding of self-certificate mortgages.

Overall, one in ten people within the UK are self-employed; the Mortgage Express team feel that there is a market for self-certificate mortgages.

Andy Wiggans, at Mortgage Express commented, "Our findings show that the potential self-cert market is strong and has grown by an estimated 15 per cent over the past four years."

"Although not ideal for everyone, self-cert mortgages can be the solution for those who are dependant on secondary or variable incomes and want to own their ideal home," He added.

"Yet lack of consumer awareness regarding this product is still preventing many eligible consumers from getting on or climbing up the property ladder."

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