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Self Cert Question?
Uncle_Fester_2
Posts: 291 Forumite
A good friend of mine, just told me that Self Cert Mortgages are now available at 95% LTV!!!
Is this true? as this will only increase prices further
Is this true? as this will only increase prices further
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Comments
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Yes its true but the criteria is quite strict and only a selected few lenders will do themI 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 -
Oh my goodness........
I wonder how many of them will be *true* self certs :mad:
Soon we will see the 8 x income multiple or even more ....... :eek:0 -
LOL Bulldog, I will send you the criteria to look atI 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 -
Hmmmm I just sent you a PM and you already guessed.... LOL
Thanks!0 -
Call it female intuition!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 -
MortgageMamma wrote: »Yes its true but the criteria is quite strict and only a selected few lenders will do them
What is the Criteria (in a nutshell) if you don't mind me asking?0 -
length of self employment, min earnings, credit status, property type etc etc - also the lender will always reserve the right to ask for proof of income at any point in the process. One lender who does these does a check one in ten cases I believe. I think they are mostly available through brokers but there might be a few direct ones.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 -
Depends on the lender as to how many they audit. I believe 8% is more the norm.0
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