Hi ,and looking for someone to talk to

niccy

First may i say hullo, :wave: and what a great site :beer:

O.K. now down to the question(s)

we would like a self certification morgage to build an extension which will cost 66K,we own the house outright, its worth is about 80K.So how much could we borrow.

sorry if this is a bit easy peezy

Fairdo_2

Hi Niccy

Welcome to the site.

I'll get in there with the question the usual suspects would ask at this point (including me), why do you need it to be self certified.

It could well be that you may be suprised what lenders may be prepared to give you based on your incomes.

niccy

Hi, Fairdo

Family income

Working Tax Credit
£225 per week

Child Benefit
£250 month

Employed wage
£90 per week

Self Employed Business

Year One 2003-2004 £2000
Year Two 2004-2005 £7000

for what its worth, we have an excellent credit score

herbiesjp

Based on the figures you have posted you have over £26,000 (as long at the WTC figure each week is correct)

On this basis, and as long as it is all verifiable, you should be able to get a "normal" high street lender to offer you a mortgage deal - assuming there are no other financial commitments in the background

niccy

WTC ,

we have five children :eek:

loan with the

alliance and leicester £14000

60 payments £273 month with 46 payments left

credit cards

£2650

thats it

Fairdo_2

Sorry to answer a question with another question, but from the figures I have just looked at, is that between 2 of you. Therefore, is one of you Employed and the othe Self Employed? Who's name where the benefits awarded to? How long been Self Employed?

I will get to an answer soon.

Beddie

Would it not be cheaper to move? You have quite an inexpensive property, and I doubt you will be adding anywhere near as much value as you will be spending on it.