Self-certification mortgages - any brokers reading this?

itsbeef

My comment was general and not aimed at any one individual

PoorDave

bud-miser wrote:

Thank you MorgageMamma. At last, some help... of sorts.

Homer-j, I'd like to ask you what kind of mortgage broker it is who does not understand the term 'self-certification'. You say you are unable to offer advice because you do not understand my circumstances fully. Now, forgive me for being dense but aren't non-status mortgages designed PRECISELY for people who are unable to produce evidence of financial circumstance?

I, ME, MOI, PERSONALLY do not know 'my circumstances fully'!! That surely is the name of the game with the newly self-employed, no? It is just a sad co-incidence that I find myself needing to remortgage in the near future.

I feel a certain resentment at having accusations of 'not being upfront with all the facts' levelled at me - when all I'd done was to ask a straight question and give the facts, however briefly, such as I knew them.

If there is any criticism to be made here, then I would point to the PAINFULLY, not to say suspiciously, long time it has taken to get any kind of answer out of supposed 'advisors' on this one.

Methinks I shall betake myself to have a re-read of Martin's comments as to the advisability of going through middlemen...

You mean the advisors who are trying their best to help you, when all you seem to do is complain? There is no obligation for mortgage advisors/brokers to come on here and try to help you.

Oh, and i have read the whole thread.

Self-cert applicants on MSE tend to cause suspicions, as many people come on here saying things like "i have an income of £x, but i want a self-cert mortgage so i can say i earn £x+30000, otherwise i can't buy the house i want". Therefore until you reveal the "full facts" people are justifiably reluctant to help out on another such thread

homer_j_3

bud-miser wrote:

Thank you MorgageMamma. At last, some help... of sorts.

Homer-j, I'd like to ask you what kind of mortgage broker it is who does not understand the term 'self-certification'. You say you are unable to offer advice because you do not understand my circumstances fully. Now, forgive me for being dense but aren't non-status mortgages designed PRECISELY for people who are unable to produce evidence of financial circumstance?

I, ME, MOI, PERSONALLY do not know 'my circumstances fully'!! That surely is the name of the game with the newly self-employed, no? It is just a sad co-incidence that I find myself needing to remortgage in the near future.

I feel a certain resentment at having accusations of 'not being upfront with all the facts' levelled at me - when all I'd done was to ask a straight question and give the facts, however briefly, such as I knew them.

If there is any criticism to be made here, then I would point to the PAINFULLY, not to say suspiciously, long time it has taken to get any kind of answer out of supposed 'advisors' on this one.

Methinks I shall betake myself to have a re-read of Martin's comments as to the advisability of going through middlemen...

I think that I am a good mortgage broker and I think you need to take a step back and stop looking to abuse those that are trying to help. In fact I think you will find my thanks rating as a good indication of the help I have been to others.

When I talk about you not being up front with all the facts, I was not saying that as a slur against you personally but you need to realise that for any broker to do their job, they need to be in posession of ALL the facts.

We do not and cannot make our recomendations based on the amount of information that you have provided so far so. You are complaining that you are not getting an answer to your question and being flippant with me because I am only trying to give you an honest answer. I do not spend an hour-hour and a half going through a fact find to fully understand my clients circumstances for the sake of it.

The fact you want a self certification mortgage isnt the issue here - you asked for comentary on a certain deal - do you qualify for it? will the lender/product be a suitable one for you? I do not know because I do not know you. Its like me asking you what car is best for me - you would want to know what use I would be having out of the car, what mileage, whether I need certain features or do not need certain features.

You cannot simply answer your question correctly on the information you have provided. You like many that have asked similar questions before will get the same response - go and see a professional who will give you advice and recomendation on the most suitable product.

If you do not want to go through a middleman then thats your choice - google will be a good place for you to start your research and I wish you well in your search for a mortgage that could potentially bite you on the backside further down the line and cost you financially!

dunstonh

The guys (and gal) give as much help as they can without stepping over the line and breaking FSA and board rules but you are not making it easy for them to offer any "suggestions" and your unqualified and inaccurate anti broker slur is only going to result in them not giving you any more help.

bud-miser

No, Homer-j, your analogy is unfair and misleading.

I could, with no difficulty whatsoever, offer you a list of car dealers currently providing 4 x 4 models at the keenest prices/offers. It would then be up to you -with the knowledge that only YOU have regarding the intimate detail of your personal circumstances, to decide whether you want a Jeep or a Range Rover.

It is perfectly reasonable to ask which mortgage lender(s) would be a good bet for a particular product, ALL OTHER MATTERS BEING EQUAL.

That was all I was aking - and I defy anyone who is unbiased to read through my original query and state otherwise. I was asking for no undying vows or commitments from anyone - just a fact or two.

I am new to these fora and am finding my way gingerly - but one thing I have learned from this particular experience is not to expect too much by way of factual information to be offered in response to an honest request. If you see this empirically-derived observation as 'abuse', then all I can say is that raw nerves must be coming into play. Too bad.

homer_j_3

google self certification mortgages - they will no doubt give you a list of self cert mortgage providers.

http://www.moneyfacts.co.uk/mortgages/bestbuys/self_cert.aspx is a list of best buys in a generic sense. You may not be applicable for any of them and applying for them and being refused will impact on your credit and any potential future applications for credit including mortgages

you decide which one is best for your personal circumstances with the information that you knwo about yourself.

I think that satisfies your question but what help that will be - I do not know...

Just to add because I want to help you - best buy tables are useless and cannot be relied upon - example, you may not have sufficent deposit for the first one so that is ruled out automatically - depending on the size of mortgage the difference in fees you pay upfrot may mean the savings you are making on a monthly basis between your comparisons will be effectively misleading and you could be paying more. Some of those lenders may only accept you after a minimum term in trading so you might fit everything but fall down on that part.

Complex things mortgages and its why we all study hard to understand them and become authorised as professionals. My analogy may have been a simple one but I felt it was suitable for the occassion.

herbiesjp

bud-miser wrote:

I am new to these fora and am finding my way gingerly - but one thing I have learned from this particular experience is not to expect too much by way of factual information to be offered in response to an honest request. If you see this empirically-derived observation as 'abuse', then all I can say is that raw nerves must be coming into play. Too bad.

What more factual than go back to Abbey and get a deal do you want?

It will probably be a better move for you than going to a self cert lender - if you don't like the advice then just ignore it

dunstonh

I am new to these fora and am finding my way gingerly - but one thing I have learned from this particular experience is not to expect too much by way of factual information to be offered in response to an honest request.

It is against FSA rules and Board rules to provide advice on regulated financial services on this forum without satisfying complaince requirements. One of the major requirements is knowing the facts.

You are a prime example of why that is the case. You want advice that you may act upon without providing any of the details that the advisers need to provide you with advice. You have been given a suggestion but dont seem to like it. Take it or leave it.

MortgageMamma

Budmiser,

Forgive me for being so straight to the point, but the reasons the brokers on here have not given you what you requested straight away is, because its not best advice and not in your best interests to let you go hang yourself.

The reason none of us are trying to get your business is because we don't come on the site to get business in the first place.

And the reason none of us with any brains would take your business if it was offered, is because we know better than to put our livelihoods at risk by take on a case such as this which gives the impression that you are not being entirely honest. NOw whether you are being honest or not is irrelevant, it is purely the way you have gone about asking your questions which will raise suspicions to an experienced and responsible broker.

So, I would suggest that you take the suggestions that you have been given by the experienced and qualified professionals here on board, and do what you have to do without insulting or making inaccurate assumptions about those who have been so kind as to take the time out of their busy working day to help you out.

Good luck with the remortgage.

Mortgagemamma

bud-miser

This is totally and uttery outrageous.

Please indicate to me IMMEDIATELY which words or combination of words I have used which could possibly have given the impression that I was being 'not entirely honest'.

If you do not do this forthwith - or issue an apology - I shall report your posting to the site administrator.

I am staggered at the breathtaking assumption - which seems to be the short translation of your last posting and, come to that, of most of the 'broker postings in response to this thread - that ANYBODY seeking a self-certification mortgage or even considering the seeking thereof must, of course, be up to no good.

I was seeking information, pure and simple - you had NO RIGHT whatsoever to assume that I would necessarily immediately make an application for any particular type of mortgage. Do you always assume your clients to be gullible air-heads, then, as your contributions to this thread would appear to imply?