Self-cert with old adverse?

merlinbailey

Hi,

My partner needs to have a self cert mortgage (contractor), our broker tried to place us with GE Money not self cert, however this appears to be falling apart.

His income stacks up and we have 15% deposit on a purchase of £175000, however four and half years ago he has a default for £4000 approx (due to marriage break up).

Does anybody know of a company that will do a self cert for this or how much deposit we would need to get a mortgage.

This is quite urgent as we have gone quite along way down the line of buying this our first home, dream home together and it will be heart breaking to lose our house at this time.

Thanks for any advice you can offer....

Yours desperatley!

minimike2

GE Money (iGroup / FN) would be the only ones that would consider it at the moment, unless there was a substantially higher deposit.

merlinbailey

Thanks for your reply,

I think our broker tried to put us through GE money with a reference from his empoyer, as long term contract, but they want him to be permenent.

Do they have a self cert, do you think they would consider changing the product?

And what do you think we would be talking about as ltv if going somewhere else...how substatially?

Thanks for help.

minimike2

Yes they offer self cert, but they load the rate. If it wasnt applied for on a self cert basis to start with they may have reservations about changing it. Best bet is to ask the broker to approach them to see if they will do it.

merlinbailey

We are in a fortunate position, in that my Partner has a very good income and we can increase our deposit savings by over £1000 a week. So if anyone could advise how much deposit we would need to save?

What ltv on a self cert, with adverse?

Is it possible?