Self cert interest only

christmas_Kray

hethmar wrote: »

I think Andys question was reasonable - he no doubt thought you may not have investigated the other options available to you.

and I thought my answer was fair, I wasnt rude I wasnt offensive and I didnt swear, Im quite glad to be honest that he has taken a dislike to me, god help me if he really is a broker and I got involved with such a rude man, I didnt and dont want to give my details out on an open forum, that sounds fair to me, if the question was " have you considered xyz" then I could have answered in another way, asking why it had to be self cert is surley up to me? or am I missing something.

christmas_Kray

koexelek wrote: »

OK, the sort of lenders that might be able to help are..... BM Solutions, Bank of Scotland, Standard Life Bank...

...

Thank you very much, now you are obviousley a Broker and one who cares, see others it wasnt hard was it? I do appreciate your time and will look into it, any idea of rates at the mo' ?

koexelek

christmas_Kray wrote: »

Thank you very much, now you are obviousley a Broker and one who cares, see others it wasnt hard was it? I do appreciate your time and will look into it, any idea of rates at the mo' ?

Around the 7% mark. That is prior to the rate cut, but we don't know if that will get passed on or not on the self certs.

You can get a bit lower rate if you pay a really high fee ( £4 to £5k) but you have to work out if it is worth it or not.

christmas_Kray

koexelek wrote: »

Around the 7% mark. That is prior to the rate cut, but we don't know if that will get passed on or not on the self certs.

You can get a bit lower rate if you pay a really high fee ( £4 to £5k) but you have to work out if it is worth it or not.

Thanks again, yes 7% was what I was told it would be before the cut, well I got 6.99 to be totally honest but I was hoping that even self cert with good credit rating might also get a little of the rate cut, so fingers crossed they pass a little on to us, not all of us took too much and then couldnt pay it back, some of us, and I bet there are many others, worked out the cost and have not missed a payment, we arent all 125% ers and we dont all miss payments, lets hope the banks see it that way, and thanks again , a Gentleman.

Tiddler_2

CK,

Andy was trying to be helpful - lots of people come onto the forum to ask where they can get Self-Cert mortgages, all he was trying to do is assess why you needed a self-cert mortgage and if there were anyother options.

Your response - which could be read as "mind your own business" which I don't think was your intention, but seems to be how Andy read it. I don't think Andy is an adviser anymore, hence why he no longer shows the signature on his posts.

Lots of brokers get calls from people saying I need a self-cert mortgage, and our 1st question should always be why do you need the mortgage to be self-cert. The reason for this is that whilst the mortgage lender does not ask you to prove your income, the FSA TELL mortgage advisers that they have to be able to prove your income. There are lots of recent cases of brokers being fined several thousands of pounds because they have not established that a mortgage is affordable.

2 or 3 years ago the self-cert deals were at similar rates to "High St" mortgages, and at up to 90% of the value of your property, now there is quite a bit of a difference because of the high risk nature of a no proof of income mortgage, and the maximum is around 75 - 80% of the value of the house.

tomstickland

They are known as "self lie" mortgages.

Plasticman

christmas_Kray wrote: »

........or would you like it if I described my under wear as well.........

If you're female, young and attractive it may help to get a few more responses.

minimike2

tomstickland wrote: »

They are known as "self lie" mortgages.

Not very intelligent input, is it.

tomstickland

Well, apart from providing an ideal vehicle for fraudulent applications. As reported by various media over the last 10 years.

FraudBuster

Lie-to-Buy Mortgage Brokers can be difficult to find on a public forum.