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Abbey Nat makes self-cert debut

Abbey National is moving into the self-certification market for self-employed borrowers for the first time.

It is offering the self-certification mortgage at 8.7 per cent up to 75 per cent loan to value. The product is being launched to brokers this week. It will not be available through the branches but will be offered direct.

Abbey National decided to launch into the market after running a pilot scheme between February and April last year.

It is also looking at offering buy-to-let mortgages for people with property portfolios.

Business sales director Basil Larkins says: "We experimented quietly with this market last year. This is for brokers who have clients who are self-employed and have problems getting loans because they can&#39t supply two years of accounts."

Borrowers must have been in business for at least 24 months. Maximum loan is £150,000.


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