Mortgages Plc withdraws employed self-cert option


Mortgages Plc is to withdraw its self-certified facility for employed mortgage applicants it was announced today.

The lender, a subsidiary of Merrill Lynch, is also increasing all initial mortgage and revert rates by 0.25%. The move means Mortgages Plc self-cert will only be available to self-employed applicants and joint applications will be assessed on a full status basis if one applicant is employed. The changes will take effect from 11 March and current product rates and criteria will only be available until close of business on 10 March. Commenting on the changes, Polly Hughes, head of marketing at Mortgages Plc, says: “We are continuing to monitor market developments carefully. We have increas...

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