Self Cert?

ben2444

I don't earn enough to get a decent mortgage, although I know I make enough money to pay one off, and more.

My company can provide me a letter stating I earn more than I do.

From my bank statements it looks like I earn more because it includes cash expenses each month

Is this enough to prove my income? Or will I need to show payslips?

Or am I better off finding a self cert morgage? Altho this narrows the choice down doesnt it?

herbiesjp

I would not go down the route of gettting this made up by the employer = fraud

Sometimes lenders are more flexible than you think and can agree loans higher than they would normally if you explain the situation to them from the outset.

ben2444

It seems to me that they all want payslips for the last 3 months? I cannot do this as it wont back up my income claims.

Ive seen Abbey and Woolwich do self cert ones starting at 4.59 fixed for 2 years and rising to 4.99 for 5 or 10 years fixed.

Any opinions on these?

I need to know whether to go the self cert route or not? I need to know whether a letter from company and bank statement (without detailing how much of my wage is salary, overtime or expenses) is good enough. Or will they all require payslips?

Fairdo_2

As herbiesjp has mentioned, the route you are looking to go down amounts to fraud.

They may still want your payslips, but several lenders now work on an affordability basis, therefore, you would need to supply them proof of your take home income rather than the salary details.

The reason for going Self Certified would be if you have income from various sources and so it would be hard to prove.

In a way, if you are earning lots through expenses then this could be taken into account as you are not paying for upkeep of car for example.

I suggest you speak to an independent Mortgage Broker and get them to look at your case as a full picture and they can see how lenders would view you as an overall risk.