buy to let self cert

paulsm

Hi does anyone know the companies out there that will accept self cert with no check ups etc as I have no proof of income as I am only just starting up s/e also an advisor told me that the interest rates were probably going to go up around 3 percent in the next year , scare mongering or fact?
Cheers for any advice

MortgageMamma

Scare mongering. We are not allowed to do this as part of the advice process as its pure speculation and unfair on the client. For all he knows they could drop through the floor. I would question the integrity of this individual and seriously consider not using them again.

In answer to your question, yes, there are some BTL providers that will lend if you don't have a job, but the whole point of BTL is that your salary and earnings are disregarded and its actually the rental income that the mortgage is assessed on.

MM

paulsm

Do you know which one dont ask for proof as I have had a few offers but recently told by another that these ones actually check for proof of income so now I am confused at which one to take up

MortgageMamma

Sorry I don't really have time to check at the moment. You did mention you had an advisor, have you asked them to check for you?

MM

paulsm

I have spoken to 4 all give differing advice , some say certain companies they rcommended dont check another says they do and that I must use their recommendations

bobsa1

We got a BTL with Beverley Buildin Society recently. They needed to see a background income but did not mind what that was.

MortgageMamma

hmmm you have probably confused yourself by taking more advice than you need. go back to whichever broker you felt most comfortable with. I would happily help you more on here, but with a kidney infection, 3 kids, and 2 businesses to run I'm pretty much exhausted at the moment. I'm not the best at buy to let either as I tend to concentrate on residential mortgages. Perhaps one of the other advisors on here, such as HomerJ/HelpwhereIcan or AndrewSmith could help....

paulsm

I have not confused my self they have done that , I dont feel comfortable with any now they are all cutting each others throats , I need to find out which companies in particular specifically do not check out your incime before or after the mortgage is in place.

Karen-F_2

You could go with G-MAC. They are pretty laid back, I hear. Also their rates are OK to good with modest fees. Their fixed rate is 5.54% as far as I remember, but the important thing is that they are easy to deal with.

sukimann

I would agree with Karen, I have two BTL with GMAC and they are quite relaxed. They have not asked for any bank or wage slips. BTL's are an investment mortgage and the decision is normally based on the rent to mortgage ratios.