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self cert
blondewithmoney
Posts: 3 Newbie
i was advised to register as self employed in order to get a self cert mortgage. i did this, got a mortgage and am 7months into my mortgage. i contacted hmrc to tell them i was no longer self employed in about october last year. i have just got a tax return to complete. i am panic stricken, i am employed, have never filled a form in and have not earned a penny from being self employed.
what does all this mean for me? is it illegal to say i am self employed when i wasnt?
what does all this mean for me? is it illegal to say i am self employed when i wasnt?
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Comments
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Well if you did not earn a penny - what income figure did you put down on the application?I am a Mortgage AdviserYou 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.0
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who advised you to say you were self employed to get the mortgage?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.0 -
my mortgage advisor told me it was the best way to get the mortgage i needed. but now i have a tax form, what reprecussions will there be if any?0
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By the looks of it your whole application was illegal!I am a Mortgage AdviserYou 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.0
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hmm, gotta love that FSA compliant advice there...
as to the form, fill in zero earnings and state that you never commenced your intended self employed occupation. This is technically correct, although without wishing to sound like your mum, never lie on mortgage application forms
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You can self cert your income below 15K so you could just put a very low figure. Its a good job the IR doesnt have the hunter system otherwise they could see the income that was put on your Lie to buy mortgage.I like to give people as many choices as possible to do what I want them to. (Milton H Erickson I think)0
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Mr_helpful wrote: »You can self cert your income below 15K so you could just put a very low figure. Its a good job the IR doesnt have the hunter system otherwise they could see the income that was put on your Lie to buy mortgage.
ahh the hunter system
its not really used anymore (only a few lenders i know of use it) which is a shame as i always thought it was a cracking idea.0
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