Rates

2% Above Bank of England Base Rate
Our rates are extremely competitive in todays market. Our expectations are that rates in the UK will be low for 10+ years. If anything we expect to see rates go negative in the coming years as the UK battles to fight off deflation.

If rates do go negative at the Bank of England, the lowest our rates will go is a floor of 2%. If the base rate goes to -10%, our borrowers will stay pay 2%. We need to be clear that our rates will cease tracking the rate if it goes negative.
Why 2%?
This is a question we get asked quite a lot, we could charge a lot more than what we are doing - that is true.

Our aim is not to turn Self Cert into a mega brand, we will never be anything of significance in the mortgage market. We go into this in other parts of the site. Our motivation was only to safeguard our own investments. We didn't want to put our money into buying a property portfolio that we had to manage. We didn't want to put money into the stock market, and we fear some Banks are about to fall over.

The truth is that this deal is the safest way for us to guard our capital. We make a little bit, our capital is safe and the customer the 2% allows us to attract low risk customers according to loan to value.
Will They Go Above the BoE by 2%?
The agreement is a cast iron contract that the rate will not go more than 2% above the Bank of England rate. There is no break, cut off point or emergency clause that allows us to break that guarantee.
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% Above
Bank of England

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£'s Penalty For Early Settlement

Extras

Early Repayment Charges
There are no charges to make additional repayments to your account. If you wish to repay the mortgage early you won't be punished for doing so by us.

Why would we want to punish people for paying us back?
Late Fees
Late repayment fees are set at £15, this is to cover the staff costs of processing the payments manually.

Admin Fees

Application Fees
There are 100% no application fees with any of our products. The only fees payable are for the valuation and survey on the property applicant wishes to mortgage.

This is only payable at a advanced stage in the mortgage process, after the decision to lend to the individual has already been made.
Valuation Survey
This is only payable when the application is at a very advance stage and depending on what part of the UK you are in, typically costs no more than £250. Although often we may be able to do this at a much cheaper rate depending on circumstances.

The point of the survey is for us to confirm that the property is in a average condition, doesn't suffer from subsidence etc. What we need to be sure of is that the property is worth an amount which the applicant says it is, and that we can recoup our loan if we need to sell the property due to non repayment.

Legal Fees
Applicants will of course be responsible for covering the cost of their own legal fees. Applicants are free to choose any legal provider that they wish to.

Our legal fees will be kept to a minimum, in the cases we have processed so far we have been able to do this for less than £300. These costs will also be passed on to the borrower at the completion part of the process.
Total Fees
We are able to place a price cap on our fees of £500, so long as it is only one property we need to assess.

Admin Fee Capped at £'s

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Self Cert is not based in the UK. We are NOT regulated by the Financial Conduct Authority

Prague 1, Czech Rep