Self certification mortgages has received another nail in the coffin as Platform Home Loans, one of the last two remaining lenders in the residential mortgage market, announces it will be pulling all of its self cert mortgage products by the end of the week.
This news comes just weeks after the FSA stated that they would be looking to ban self cert mortgage products.
This news is no doubt going to come as a massive blow to the self employed business community who have ordinarily not been able to fit into the prescribed boxes that mortgage lenders have imposed. It is however, hoped that once the Financial Services Authority issue guidance that mortgage lenders will be able to tailor specific products to the self employed business community.
We all wait to see how the mortgage market will cater for the self employed business person.