Self cert mortgage?

lula911

HELLPPPP

we are looking for a 60%LTV mortgage on our current house for £160k

My other half is self employed and brings home £1,200 p/m but his company has not been going very long (and is effectively not worth anything).

I have enquired at a few places and have been told as my partner does not have 3 years worth of accounts I would have to go on my own and could get 3.5 times my basic salary (but they would not include my commssion) This leaves us short by a few thousand!

Where is the best place to look? I have looked at some self certificate mortgages but they start at 7%! I don't really want to go to a broker unless absolutely nessacary

Any help gratefully received

herbiesjp

There are other lenders that would be more generous in taking into account your commission, or offering higher income multiples

That way you would avoid higher self cert deals

Get in contact with a whole of market adviser and they should be able to help quite easily

minimike2

It sounds like a broker would be the most sensible place to start since you dont know where to go / what to do. Why dont you want to see one? A broker may well be able to find you a mainstream mortgage.

_Andy_

lula911 wrote: »

I don't really want to go to a broker unless absolutely nessacary

..How come?

Toughluck

If you want advice from a broker on line but not face to face for whatever reason I am not prepared to let on where I think you'd get a good product. It is tough enough in this market without people thinking they know better about mortgages when they don't. and yes I have had a !!!! afternoon.

Toughluck

7% mainstream OK for a mortgage. I will acutally recommend Igroup mortgages for you on a self cert basis. Bargain.

koexelek

Toughluck wrote: »

If you want advice from a broker on line but not face to face for whatever reason I am not prepared to let on where I think you'd get a good product. It is tough enough in this market without people thinking they know better about mortgages when they don't. and yes I have had a !!!! afternoon.

Well said.

A lot of people are hypocritical when it comes to brokers..

On one hand, we are charlatans and conmen, only looking out for our own interests..... but on the other, we are expected to solve everyones' problems without earning a penny for doing it :rolleyes: