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New rules for self-certification
DavidMac_2
Posts: 1 Newbie
I have hit a problem in that the new rules came in as I was about to change my mortgage and borrow more to build an extension. Now I am limited to 3.5 x earnings whereas a week ago I PROCLAIMED MY ABILITY TO PAY, the difference between what I pay now and the new payment would only be £40 per mth. Is there any way around this?
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Comments
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The broker who arranged my self-cert mortgage `phoned yesterday .I asked about this and he said that they are still available. I am suprised that none of the experts have answererd your question though.
I`m tied in for another year so can`t give you any figures.Sorry.0 -
it's difficult to respond to this with out knowing some more details - a lot of lenders have tightened up on their criteria post regulation.
Without knowing exactly what it is that you want, it's hard to say whether it is an over zealous lender that is causing the problem, or whether there is a more fundemental issueI work for 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.( I have ammeded this signature slightly, as I do not actively provide mortgage advice. However, I support and adhere to the moneysavingexpert mortgage broker code of conduct)0
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