People with self-certification mortgages who are coming to the end of their deals and looking to remortgage may find that they can take out standard deals, it has been claimed.
According to the Times, such mortgages are often taken out by self-employed people who do not have several years of accounts to their name.
However, James Cotton of London & Country Mortgages told the newspaper that those with self-certification mortgage deals may now have the "required accounts" to be "eligible" for standard deals.
"If they now have a couple of years of accounts showing their income, many lenders will accept them on standard terms," he commented.
In related mortgage news, the Council of Mortgage Lenders recently predicted that house price inflation would continue to be positive next year, while there are likely to be more than one million property transactions.
The council said that 1.4 million households will find their short-term fixed-rate mortgage deals are set to expire in 2008.
