Credit score 999, same bank 25 years, self employed, no takers

Drumbo

Unfortunately traker deal disappears March. Planned 5 yrs ago to re-mort now raise cap, clear any debt and tart up home as want to be here at least 20years more. Cannot get self cert from anyone less than 7.5%-10%.
Rating excellent + same history. Any useful ideas apart from sell and downsize?

herbiesjp

How long have you been self employed?
What is your NET profit?
What amount of mortgage do you want?
What is the property value?

bigstevex

A bit off topic but once you've got so many years (not sure how many) self employed 'books' do you still need to do self cert?

herbiesjp

No

That one of the reasons I asked how long he had been self employed

bigstevex

how many years is it before you can go mainstream mortgages?

herbiesjp

Different lenders have different criteria, but obviously the greater the track record the more options available.

Last 3 years figures are normally asked for

Conrad

Self cert is a last resort. I think you need to talk to a good broker with lots of experience.

Eydon

herbiesjp wrote: »

Different lenders have different criteria, but obviously the greater the track record the more options available.

Last 3 years figures are normally asked for

Yep - it was 3 years worth at The Woolwich when I applied years ago. Originally had a problem because my third years books hadn't actually been signed off, so when I printed them off I stuck a DRAFT watermark on the first page. I got turned down, but when I spoke to the underwriters they said all I had to do was reprint the first page without the watermark :rotfl:

maryjane01

First Direct were great for us when we applied last year. My husband had only been self employed a year, but he was in the same line of work as when he was employed, so they took P60s for the previous 3 years. I don't know whether they would have tightened up their criteria though. The offset feature is brilliant when you are self employed on an income that can go up and down. It would also be good if you wanted to draw down extra to do work but didn't want to do it all at once.