Back in July 2007, 860 or 23% of the 3,803 prime residential mortgages were available through self-certification. There are now only two self-certification mortgages left in the market, both available from Platform, part of Britannia BS, and are only available to the self-employed.
Nationwide’s The Mortgage Works pulled out of the sector this week and there are rumours that Platform will be following suit shortly.
Is it a coincidence that the lenders are making this decision shortly before the FSA’s review? We’ll find out next week.
