Self cert situation

phingers

Hi all.

Background:
Mrs P and I have a mortgage with The Chelsea. It was taken out a few years ago when I was a self employed landscaper so we went the self cert route. I ruined my back landscaping, so in the last year I have gone into PAYE full time and back out again as I was made redundant last August, all of which we have told The Chelsea. We have never gone into arrears and are meeting the monthly repayments on time every month.

In August this year, our mortgage comes off of its fixed rate. I am still unemployed, and Mrs P's income no where near covers the mortgage.

The Chelsea's variable rate is currently 5.79%, and they have a 2 year fixed product at 3.69%, neither of which is very attractive to us as we want to reduce our outgoings as much as possible for previously stated reasons.

Question:
Is there another self cert (or similar) product available that requires NO proof of earnings whatsoever (other than bank statements showing very good income/ outgo plus confirmation from the Chelsea that we have never gone into arrears) BUT at a far more competitive and pocket friendly interest rate?

Or are we stuck with whatever the Chelsea offer us?

(By the way, we have a perfect credit rating too).

TYIA

happybroker

3.69% isn't that bad, obviously I don't know ltv's etc etc.

if your unemployed what income are you trying to self cert? If it's a ficticous one (please don't take that the wrong way) then I would be horrified if any adviser would talk to you about it.

If it's incapacity or something along those lines then you should be able to provide evidence.

koexelek

happybroker wrote: »

3.69% isn't that bad, obviously I don't know ltv's etc etc.

.

it looks a cracking deal on the face of it, taking into account present personal circumstances

herbiesjp

I would bite their hand off if I were you.

If you have no income you would have no chance of a mortgage elsewhere

3.69% is a very good deal they have offered you, go for it