Self Employed mortgages

harvey115

Have you tried a semi self cert lender?

Do you mean lenders who accept 1 year company accounts with the next year projections?

I have not tried them, but I was just wondering if there are any and what would be there criteria...

PS - Since we have about 4 weeks difference between exchange and completion, I will double check if an exchange and completion would be possible at the same time. Developers usually tend to not do this.

harvey115

Jus for the information of someone visiting this thread, I completed by going through specialist brokers in self employment (contracting).

DiscoCat54

Hi there. Do you mean that you didn't go through the Clydesdale in the end?

harvey115

I went to Contractor Financials (mortgage brokers) and they secured me a mortgage with Clydesdale. I have been lucky to be around very professional people on this forum as well as with my purchase.

First application to my selected lender went through fine and purchase completed.

PS - My credit history has been squeaky clean with no debts and multiple settled accounts from phone companies to credit cards.

nufc_fan

Thanks for the update, i think this is the route I will go down when I find a property that I am willing to offer on.

Could I ask what % deposit you had and what was the interest rate that you managed to secure?

Cheers

harvey115

nufc_fan wrote: »

Thanks for the update, i think this is the route I will go down when I find a property that I am willing to offer on.

Could I ask what % deposit you had and what was the interest rate that you managed to secure?

Cheers

Due to the nature of my woking conditions I was not able to secure the best possible rate, but it is still very good.

75% LTV
25% Deposit from savings
2 Years dicounted rate of 3.19%
After that 4.95% for 23 years

Hopefully I will be able to remortgage in two years, if good rates are still available.

nufc_fan

Thats actually not that bad a deal. I am looking at either 90% or 85% LTV so will be likely paying a much higher rate than that.