The Mortgage Operation has brought in the self cert fix mortgage.
The self cert fix is aimed at self employed people who have difficulty proving their income when applying for a mortgage.
It has a fixed rate of 6.95 per cent for the first three years of the mortgage, after which it will revert to two per cent over the Bank of England base rate for the term of the mortgage.
Self cert fix also offers a number of options. Borrowers can overpay, under pay, take payment holidays, and interest is calculated daily.
According to Money£acts the lowest fixed rate self cert mortgage on the market on October 9, 2000 is the UCB home loans fixed rate self cert mortgage, which has a rate of 6.25 per cent for two years. Pink Home Loans also offer the self cert fixed rate mortgage with exactly the same features as the Mortgage Operation product but which has a rate of 6.74 per cent for two years.