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self cert offset?
donsaini
Posts: 69 Forumite
hi guys just a quick question.
does anyone know if there is a self cert mortgage with an offset facility on it?
my brother is self employed. only from middle of last financial year, in a secure job (pharmacist). so not worried about fututre income probs.
he does however have a problem with a mortgage.
my father is gifting him the family home worth about £400k. he wishes to take out a mortgage to repay my dad's mortgage for £110k. (leaving aside all the inheritance tax/gifts with reservation/etc).
he has about £50k in savings, however may need these in the future.
so he really needs a self cert mortgage, pref with an offset facility, which allows him to overpay (as he's looking to pay off the mortgage within 7-10 yrs)
many thanks
does anyone know if there is a self cert mortgage with an offset facility on it?
my brother is self employed. only from middle of last financial year, in a secure job (pharmacist). so not worried about fututre income probs.
he does however have a problem with a mortgage.
my father is gifting him the family home worth about £400k. he wishes to take out a mortgage to repay my dad's mortgage for £110k. (leaving aside all the inheritance tax/gifts with reservation/etc).
he has about £50k in savings, however may need these in the future.
so he really needs a self cert mortgage, pref with an offset facility, which allows him to overpay (as he's looking to pay off the mortgage within 7-10 yrs)
many thanks
0
Comments
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Why self cert in particular - some lenders may give him a full status mortgage even on this short track recordI 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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I think Northern Rock may have the answer.
Best wishes, Neil0
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