Self Certification Mortgages are an increasingly popular way of obtaining a mortgage. Many people are now self employed or on short term contracts and don't have an income that is easily assessable. The amount they can borrow is based on a signed declaration of income.

They are ideally suited to those who are self employed, or employed but have an irregular income, due to bonuses and sales commission. They are also suitable for those who regularly undertake short term contract work, or have a number of jobs or are seasonal wage earners.

If you run your own business you may not qualify for a conventional mortgage and self certification is the best method of obtaining your mortgage. High street lenders tend to approve mortgage applications for those who have long-term regular income, usually with at least three years accounts.

You can certify your earnings without having to supply proof of income documentation, such as pay slips or fully audited accounts. Some lenders may require a document signed by your accountant to say that your income is sufficient to service the repayment.