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95% Self cert mortgage?
Comments
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I agree with Herbie, if the income sources are verifyable then there is absolutely no reason to be looking at self certify. even if you do not have audited accounts for the business you can still varify the income by other methods.
This is the trouble with some inexperienced or lazy brokers who cannot be bothered to take the time to research and work on a case properly. They have seen a self cert product being used and instantly think thats the way to go for anything other than the absolute norm.
Have a word with a couple of brokers, give yourself the best chance of getting the most suitable mortgage product for you.0 -
Although at 90% self cert rates may be better than status 95% if you take the HLC in to account! I agree, you need to check that your consultant is not being lazy!
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I'd be tempted to have a look at bank of scotland full status one this one, if you can prove your income for 12 months it could fit ok - don't go applying alone though, this needs thorough assessment by a professional. Did your mortgage broker not show you the sourcing results?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 -
Many thanks for the feedback and help.
My income from my part time business is not verified by an accountant but I could get this done for the last 12 months only. Would this suffice with some lenders alongside our incomes? I have recently got this new job but my previous wage was £17.5k.0 -
Some lenders will be happy with thatI 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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There is no way possible in the current market due to recent changes, for you to obtain a 95% self cert mortgage. I believe First National were the last to discontinue this. It will be back, just not for a few months.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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There is no way possible in the current market due to recent changes, for you to obtain a 95% self cert mortgage. I believe First National were the last to discontinue this. It will be back, just not for a few months.
The point is, the OP does not necessarily have to look at self cert thoughI 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 -
There is no way possible in the current market due to recent changes, for you to obtain a 95% self cert mortgage. I believe First National were the last to discontinue this. It will be back, just not for a few months.
capital home loans still do them, and money partnersI 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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