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self certify ?

timjm
timjm Posts: 2 Newbie
in Mortgages & endowments
Hi folks
Can anyone tell me where to get a self cert mortgage without having to pay through the nose for it .. or alternativly are there any other options when proving earning is a problem
Many thanks

Comments

  • homer_j_3
    homer_j_3 Posts: 3,266 Forumite
    erm... not really off the info you have given us.

    What deposit do you have, how much do you need to borrow, what do you earn? what do your accounts show?
    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.
  • Mortgagehero
    Mortgagehero Posts: 33 Forumite
    There are a number of lenders that do not require proof of income under certain circumstances. For example the Abbey would fast track your application if your credit score is good and you are borrowing less than 75% of the value of your property.
    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.
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    Just a word of warning.

    Be it fast track or self cert, a lender can ask for whatever documentation they want, at any time - and that includes proof of income.
    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.
  • AndrewSmith
    AndrewSmith Posts: 2,871 Forumite
    Agreed Herbie.

    It is not uncommon, in fact, for fast track lenders to ask for employer reference instead or accountant's letter instead of payslips/accounts. This can be during the underwriting process or, as is more common than some people think, between issue of the mortgage offer prior to legal completion.

    Fast Track should never normally be used as or advertised as a replacement or substitute for self certify.

    There is a market for both, but they are indeed not the same thing at all.
  • homer_j_3
    homer_j_3 Posts: 3,266 Forumite
    long time no see andy... hows it been
    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.
  • AndrewSmith
    AndrewSmith Posts: 2,871 Forumite
    homer_j wrote: »
    long time no see andy... hows it been

    Yeah good thanks, lots of changes, house move etc etc.

    Send me an email and I will fill you in.

    :beer:
  • timjm
    timjm Posts: 2 Newbie
    homer_j wrote: »
    erm... not really off the info you have given us.

    What deposit do you have, how much do you need to borrow, what do you earn? what do your accounts show?
    Hi homer-j
    Looking to borrow £45000 , the price of the property is £75000.
    because i have been retraining my accounts show very little ,, however I will earn in the region of £12000 this year .. & will hopefully rise as time goes on .
    Also I am told I have a good credit rating
    Many thanks
    Timjm
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    You could try your own bank - some have pre-agreed mortgage limits based on the cashflow of your accounts
    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.
This discussion has been closed.
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