85% LTV Self certification re-mortgaging..

richardw

...with a maximum locked in period of a year.

any suggestions for a lender?

Leon_W

C & G and A&L do not do "self cert" mortgages.

richardw

Is this going to be a bit expensive?

Leon_W

Not neccessarily.

If you need to remortgage at 85% LTV on a "true" self cert basis. That is no income checks at all. Then there are a few lenders that can help, but I cannot name manes here as that would constitute advice.

You need to speak to a broker as that whole area can be a minefield. There are lenders who will also do it on a "fast track" basis at a cheaper rate maybe, but they still reserve the right to check your income. It will come down to how provable it is.

Look in the Yellow pages for a whole of market fee free broker. They would be your best bet.

All the best
Leon

richardw

I have bank statements and pay advice documents that show income, just not the 'perfect' monthly salary slips. I'm also wanting to borrow less than 3 times my gross income. No CCJ's and no defaults.

AndrewSmith

Why are you wanting to self certify if you have proof of your income via pay advice slips?

What is your employment status etc?

It may be completely possible to place as full status thus not incurring any self certify 'loading' onto the interest rate.

richardw

AndrewSmith wrote:

It may be completely possible to place as full status thus not incurring any self certify 'loading' onto the interest rate.

I think you could be right there, a broker might be good in my circumstances

AndrewSmith

Look at it like this:

Healthy income multiple (less than 3x)
Proveable income stream
No adverse credit history
15% equity

I would say that it is definately worth a punt at full status, or at least discussing the available options for this route prior to considering self cert etc:

HTH and let us know how it goes.

Andy

herbiesjp

Leon_W wrote:

C & G and A&L do not do "self cert" mortgages.

A&L have joined the self cert market

Having said that, and looking at the information you have posted - you should really try and get an adviser to get this placed with a full status lender.

Be totally transparent with your scenario and the adviser will be able to talk through your situation with the lender and find out how flexible they will be in agreeing the mortgage for you

It could save you money!

Leon_W

By editing your original post richardw you have altered the whole context of the thread. You originally stated that you wanted to self certify at 85% LTV and had seen good deals from Cheltenham and Gloucester and Alliance and Leicester.

To which I replied "they don't do it"

If someone has the courtesy to reply to your post with a contructive attitude please don't edit your post later to make the replys look like some random idiot posting.