Today, Selfcert.co.uk has launched in the UK offering self-certification mortgages.
In 2014 MMR (mortgage market review) was launched to ensure lenders would be stricter when checking someone can afford a mortgage, so self-cert mortgages pretty much disappeared. This is a good thing as it helps prevent people over stretching on their mortgage. Selfcert.co.uk appear to be able to side step this UK regulation as they will be selling their products from the Czech Republic.
Paul Bumford, Director of Financial Services commented, “It’s always positive news to see new lenders move into the UK mortgage market. We will watch the progress of this self-cert venture with interest. However at this point in time it is unlikely that Andrews will offer self-cert mortgages. We are very comfortable with the current full disclosure required for lending within the UK market and we are very mindful of sticking predominantly to main stream lending.”
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