self cert needed

caitlinandmaddysmum

we are looking for a self cert mortgage as my husband has been self employed for less than 1 year any advise on the best lenders we have had some money troubles in the past and have 2 ccjs that are still running.
no idea who to look to we have about 35-40% deposit and are looking to borrow up to 90k thanks

AndrewSmith

Hi,

The main thing to watch for is that whoever you ask to arrange this for you makes sure that mainstream lenders are ruled out first.

Don't fall foul of these adverts on TV claiming to specialise in 'Adverse Credit' or 'Self certify' as they will undoubtedly have very limited market access and will be looking to charge you a fee.

Having said that you must be prepared to pay an interest rate that is higher than that available to a lot of other people. This will be down to the combination of the CCJ's and the self certify.

With a deposit however of 35-40% it should be possible to obtain a reasonable rate via a good reputable company.

Also try to steer clear of those lenders who impose long tie in periods but tempt you with a reduced rate earlier on.

How much are the CCJ's , what are they for and how long ago were they registered.

Are you home movers or First time buyers? If you have a mortgage who is it with?

Thanks

Andy

herbiesjp

Agree with Andy - van you post any more details?

Fitzy29

Hi,

post your stats so these guys can take a look, in the meantime also take alook at GMAC's website, they are a mortgage lender who can only be approached through a broker but on their site it does tell you what deals you can get with CCJ's and what rates you'll pay etc.

missile

There are any number of morgage brokers on the High Street and on-line offering this service for free. Suggest you contact at least three.

caitlinandmaddysmum

thanks for you help in answer to your questions we arehome movers we are currently with the halifax with a total of 38.000 outstanding house is worth approx 105.000 ccjs are from 1996 and have approx £3000 outstanding.
any more help would be great thanks

MortgageMamma

Hi there

If your CCj's were from 1996 they will now not be on your credit file as they only stay on 6 years. I would recommend you obtain a copy of your credit reports from experian and equifax to check this. You may not even need a self cert mortgage as some lenders will fast track you, i.e. not assess your income/do minimal income checks if your loan is below 75% of the property value which yours should be. I really think approaching a whole of market mortgage advisor to place this business is your best option. Once you have got your credit reports book an appointment with someone, and let them take the reins.

MM