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Originally Posted by kronas
there is no accurate figure for the amount of self certificated mortgages, although it sits at about 30-40%, most people rely on the interest rates to stay low, atthe current conditions of over borrowing through credit and mortgages, the assessment is rates will be going up.
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The thing is, *I* have a self-certificated mortgage, but that's because, when I took it out, I was self-employed and, as such, didn't have the three years of business books that mortgage companies were demanding.
However, having said that, I didn't extend myself beyond my means (in fact quite the opposite), nor would I ever do so, because I've got more financial sense!