There is less consumer certainty about self-certification mortgages following the recent credit crunch, according to an industry figure.

Richard Farr, managing director of the Association of Mortgage Intermediaries, explains that the products provide access to mortgages for those who might be rejected for conventional deals.

This could be because they are self-employed or have an income large enough to cover repayments, but with no fixed proof of the amount.

But such individuals may need to look to alternatives, such as secured home loans, in light of Mr Farr's comments.

"Previously this was a very competitive market - the market had been growing well," he explains.

"However, the emergence of the credit crunch has contracted the market."

Mr Farr observes that self-certification mortgages have only ever been a "very small part" of the market.

But for those with assets in the form of property, secured home loans could prove an alternative where other forms of lending are decreasingly available.ADNFCR-1287-ID-18322181-ADNFCR

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