Self cert mortgages unharmed by credit crunch

Posted 2008-01-3

The availability of self-cert mortgages has been largely unchanged by the credit crunch, despite the wide reporting of tightening lending conditions in the mortgage market. The credit crunch has affected the sub-prime sector and non-conforming lenders, with mainstream lenders mainly unaffected. 

Andy Pratt of mortgage brokers Alexander Hall stated that borrowers with good credit records should have few problems being approved for a loan:

“All those clients who would have been able to get them even with the credit crunch.”

According to the Economic and Social Research Council 13% of Britain’s 29million workforce are self employed and therefore eligible for a self-cert mortgage.

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