UK Money News
10th January 2008
Self-cert mortgages 'remain available despite tightening'
Although the credit crunch has impacted on many aspects of consumers' personal finances, those on self-certification mortgages are likely to find that their market has remained strong.
Independent mortgage debt advice firm Alexander Hall has stated that though lending criteria has been tightened as a result of recent turmoil in the financial markets, self-cert mortgages remain available.
Andy Pratt, spokesperson for Alexander Hall, said: "All those clients who would have got a self-cert mortgage before have been able to get them even with the credit crunch."
He added that the big lenders providing such personal finance products remained in operation.
Mr Pratt noted that people seeking such help with money often take mortgage debt advice from brokers because they are in an unusual financial position - and that such professionals are used to finding the appropriate help with finance for them.
Money news from the Economic and Social Research Council indicated that in excess of one in ten of the UK workforce are self employed, often making them suitable for such a personal finance product.
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