Self-declaration loans

Self certification is a process that allows individuals that cannot easily prove their income to take out loans such as mortgages etc. It can also be used by an individual with a poor credit history in certain cases. If you self certify then you are basically allowed to simply state your income with no general need of further proof.

The quickest and easiest way to apply for a loan. You'll need to be a homeowner with a mortgage.

We specialise in helping the self-employed to obtain finance. If you haven't got any accounts, perhaps because your business is new, or you are self-employed and have no easily available proof of your earnings, we know it can sometimes be difficult to prove your income, so we have special loan products available to you. Fill in the online application to apply or give us a call on 0800 258 5353 let our advisors help.

If you are self employed we can normally accept a self declaration of your income subject to information to support that you are actively in self employment such as an invoice, a VAT certificate or tax assessment - even if the profits show a lower figure than you are currently earning.

We understand that there is no legal requirement to prepare accounts for the majority of small businesses and few go to the expense of having accounts prepared by a chartered accountant. However, most have an accountant for tax advice and you can simply ask your accountant to write to us to confirm your income in our prescribed form and this will be perfectly acceptable to us.

A lender will usually need proof of your income, but sometimes, they will rely on your own assessment of income (‘self certification'). Self-certified loans were designed to cater for people who are self-employed and have difficulty in showing that their earnings are enough to make the payments on the mortgage they are applying for. This could be because they have not been trading for long enough, they have more than one job, or they rely on bonuses for a large part of their total pay.

Bonuses, commission and seasonal work can cause income to vary over time or be difficult to guarantee and this may not be considered acceptable in order to get a mainstream loan. Many customers, who go on to be excellent mortgage customers with specialist lenders, routinely fail credit scoring processes with mainstream lenders. While most self-certification mortgages are also available to the self-employed, they are not exclusive to them and some of the following groups also opt for this type of product:

Unsalaried company directors; Co ntract workers (increasingly common in technology-based industries); Commission-based workers (often in sales, recruitment etc); People with seasonal earnings; Those with more than one income; City workers or others who receive a high annual bonus; Borrowers on a low wage who have an inheritance fund or other family income

You can borrow from £5,000 to £150,000. So if you want to clear your existing debts and make a fresh start with your finances, apply for a loan online and you could have the money in 14 days!