Simon is a retired clerk. He had worked in civil secretariat for more than 30 years and now lives a content and happy retired life on his savings and pension. Some years ago when he retired from service, he had to buy his own place. Although he had the money, he did not want to buy the house at once and invest all his capital. For him, it was too big a risk for all his life’s savings. A friend recommended remortgages. Although Simon initially liked the idea, but again decided that it was not what he wanted. He didn’t want two mortgages. All he wanted was a peaceful, small house.

He started consulting a lot of financial advisors and experts to decide what type of mortgage plan he should use to buy a house. Some recommended interest only mortgages. Simon didn’t even consider that option because he was already living on a pension and the interest rates for the mortgage plan were too high for his liking.

Self cert mortgages were worth considering because they required minimum details about the exact wage and salary information. But Simon was indifferent to that. He had savings. He had pension. So, he could have proven things to the mortgage lenders easily. He didn’t want to deposit a big amount in the start as was the basic requirement for self cert mortgages.

Finally Simon decided to use self build mortgages option because it gave him the liberty to be able to make and run his own plan in accordance with the mortgage lender’s terms and conditions. He bought a house soon afterwards.