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Best Mortgage Deal for FTB Self Employed?
iandv
Posts: 371 Forumite
Hi
My brother is a first time buyer and is looking for a good rate fixed term mortgage over 3-5 years with no extended redemption penalties.
However he is self employed with 3 years worth of accounts and will be able to deposit 10-15% of the asking price, does he have to arrange a special type of mortgage a 'self certifiaction' or can he just use a standard deal?
Finally any recommendations on good deals for the above ?
TIA
My brother is a first time buyer and is looking for a good rate fixed term mortgage over 3-5 years with no extended redemption penalties.
However he is self employed with 3 years worth of accounts and will be able to deposit 10-15% of the asking price, does he have to arrange a special type of mortgage a 'self certifiaction' or can he just use a standard deal?
Finally any recommendations on good deals for the above ?
TIA
0
Comments
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He can look at standard deals as long as the incoem stated on the accounts is sufficient to support the loan he is looking for.
What is the purchase price?
Ideally what mortgage amount does he want?
What gross yearly incoem does he have or net profit?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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