Are self cert mortgages more expensive than a traditional one?
A. When they were first introduced, yes. However the rates have now fallen considerably for these products and are more in line with a conventional mortgage. Lenders are asking for deposits in excess of 25% though. Q4. A friend told me that I can’t borrow as much with a self cert mortgage…. A. How much you can borrow is detemined by your level of income and outgoings, not the type of mortgage.
