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Self Cert mortgage

Louise80
Louise80 Posts: 11 Forumite
in Mortgages & endowments
Self cert mortgage needed, anyone know of any good brokers...looking in the region of 250k and have 5% deposit.

Comments

  • AndrewSmith
    AndrewSmith Posts: 2,871 Forumite
    The first question is to determine the suitability of self certify for you.

    Why do you need to self cert and what income do you have and from where?

    You will find that your choice is greatly limited by the fact that you have 5% deposit. Most self cert products require at least 10-15% deposit.

    Andy
  • Louise80
    Louise80 Posts: 11 Forumite
    its actually for my partner, he works as an autocad engineer and doesnt work for any 1 company,his income is in the region of 60k, if need be 10% could be raised
  • Wickedkitten
    Wickedkitten Posts: 1,868 Forumite
    Part of the Furniture Combo Breaker
    Louise80 wrote:
    its actually for my partner, he works as an autocad engineer and doesnt work for any 1 company,his income is in the region of 60k, if need be 10% could be raised

    You're going to need a minimum of 15% on a self cert.
    It's not easy having a good time. Even smiling makes my face ache.
  • stanmoresaver
    stanmoresaver Posts: 614 Forumite
    Wickedkitten wrote:
    You're going to need a minimum of 15% on a self cert.

    This is not correct.

    SS
    I am a fee charging WoM Mortgage broker.
    I now no longer give information and opinion within the Mortgage boards, because a number of posters who, having approached me professionally, agreed my fee-which has been been made very clear at the outset, taken my advice (normally cancelling a [home visit] meeting at short notice) have then approached one of the fee-free brokers on here to arrange the very same deal I have advised.
    Whilst I totally concur with the ethos of "money saving"- abusing the goodwill of a professional who provides a quality service is taking it too far! :mad:
  • Wickedkitten
    Wickedkitten Posts: 1,868 Forumite
    Part of the Furniture Combo Breaker
    stanmoresaver wrote:
    This is not correct.

    SS

    All the ones I've seen have, but if I'm wrong then I apologise.
    It's not easy having a good time. Even smiling makes my face ache.
  • MortgageMamma
    MortgageMamma Posts: 6,686 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    There is actually a 95% product that COULD be used in this case. I'm sure AS and SS know the one I'm talking about. but plenty of 90% LTV's knocking about. Does your partner have any accounts?
    I am a Mortgage Adviser

    You 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.
  • Louise80
    Louise80 Posts: 11 Forumite
    No accounts
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    Wickedkitten wrote:
    All the ones I've seen have, but if I'm wrong then I apologise.

    Apology accepted
    I am a Mortgage Adviser
    You 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.
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    Does he have bank statements showing the money coming in?

    It is better to see if you can place with a status lender as opposed to self cert purely on the basis of getting a better rate
    I am a Mortgage Adviser
    You 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.
This discussion has been closed.
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