What is a self-certified mortgage?

Definition of a self-certified mortgage

A self-certified mortgage, also known as a self-cert or self-certification mortgage, was a type of mortgage that enabled individuals to borrow without having to prove their income. These types of mortgages were popular with self-employed business owners who often find it more difficult to prove their income than salaried employees.

Do self-certified mortgages still exist?

Widespread abuse and poor standards in lending led to self-certified mortgages being dubbed 'liar loans' and, despite being useful for self-employed borrowers, they were removed from the market by the Financial Conduct Authority (FCA) in 2014.

Is it still possible for self-employed business owners to get a mortgage?

Yes. It might require a little more organisation to get the necessary documents in order but most lenders just need to know the borrower’s ability to repay rather than their employment status. Read our guide on self-employed mortgages to find out more.