Self certification loans are special loans designated for those who would like to borrow money but do not have adequate proof of their ability to repay the loan. Those who work for large companies are easily able to provide proof of their credit-worthiness by showing current pay-stubs, etc. However, those eligible for self certification loans, such as self employed individuals, are unable to come up with such documentation. Self cert loans require you to disclose your income, but they do not require you to provide proof of that income. Besides self employed individuals, self certification loans are also beneficial for people who receive commissions or seasonal salaries and have a difficult time tracking or providing proof of their earnings. Self certification loans are also good for those who have recently started a business but have not gotten it very well established yet.
Because of the high failure rate of many businesses, self cert loans tend to have a higher rate of interest than other comparable types of loans. Self certification loans also normally cost more in fees and deposits than other types of loans. If you are looking for self certification loans, it is an...
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