Is there any way of minimising the higher interest rate?
The mortgage lenders certainly view people who can prove their good credit history in a much better light than those with poor credit. Therefore, it is worthwhile trying to protect your credit rating if you are considering a self cert mortgage. Other ways to negotiate a better deal with the lender is to provide a higher deposit or prove that you have a regularly high level of income. All of these factors will be taken into account during your self cert mortgage application and are often worthwhile raising with a financial adviser.
