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Self Cert deal - any good??
Murray
Posts: 622 Forumite
I am in the process of buying a house with my OH. We need a self cert mortgage (because I'm on a fixed term contract and OH is self employed - we aren't inflating our incomes!) and would like to start off on an interest only fixed rate (fixed for 2-3 years) to help with budgeting. We have a 25% deposit.
I'm struggling to find any best buy tables for self cert mortgages so I'm hoping that somebody will be able to advise whether this is a good deal:
4.79% fixed for 2 years with £499 fees. There is a £195 repayment fee at the end of the fixed term.
I'm struggling to find any best buy tables for self cert mortgages so I'm hoping that somebody will be able to advise whether this is a good deal:
4.79% fixed for 2 years with £499 fees. There is a £195 repayment fee at the end of the fixed term.
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Comments
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Why don't you put your details into the moneysupermarket checker - I see it throws up deals like Newcastle BS @ 4.59% or Abbey @ 4.74%0
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Thanks for that.
The best buy table's here for anyone who wants a look.
My next question is - which companies offer "true" Self Cert mortgages and which are likely to request accounts etc?0 -
If you have a 25% deposit and you are not inflating your incomes, then why not look at a mainstream lender. Some lenders are flexible in their underwriting approach and will fast track an application providing you have a good credit score, or will ask for limited information.
It will depend on the whole scenario you are looking at however, so difficult to say whether this would be viable.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 -
We got a self cert mortgage from Birmingham Midshires via a Mortgage broker, they didn't check our figures
:idea:I got an idea, an idea so smart my head would explode if I even began to know what I was talking about:idea:0 -
Hi,
Like you I have been looking at self cert mortgages and Bank of Ireland are currently offering a 3 yr fixed rate at 4.85% with no arrangement, legal or valuation fees. I have found this to be the best deal so far and will probably go with it. Unless of course anyone knows different??0 -
MIkeassured
Is this a purchase or re-mortgage?
What is the loan to value?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 -
This is a remortgage. My loan is 58000, the value of the property about 270,000. Although this was found for me by London and Country, I did find it on Bank of Irelands website afterwards.0
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mikeassured
I could be wrong but i just had a quick look and that looks like a full status deal - the self cert deal is 5.39%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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