Self-certifying with large deposit?

jojoe90

Hi all,

I have a £90,000 deposit and would like to buy a small one bed flat in the region of £130k in Brighton.

I've been made redundant from my job this month, but have retained my existing contract clients so I'll have a regular income of about £1000 a month after tax.

Will I be able to get a self-cert mortgage? Have been reading about new rules, e.g. needing two years' accounts, etc. Am currently renting a flat for extortionate £625 a month - whereas mortgage would likely be in the region of £200 a month fixed rate. Big difference!

All help gratefully received.

Best regards,
Jo

herbiesjp

SO you are looking for a £40k mortgage

Because you will be doing the same work, and you have a track record for your income, and contracts for your current/future income, there may be one or two lenders that could look at this

It would not be a self cert - it would be a full status mortgage and the lenders will want proof of that income

A tricky one, but can be done potentially

Get in contact with a whole of market adviser, who would make all the relevant calls to the lenders to check criteria before applying

theartfullodger

Yup, contact big brokers & lenders - someone might do a deal...