mplaczek

I have a friend that is trying to get a mortgage with his GF.
He is a builder and does odd jobs here and there so can't really guarantee income or prove it very easily. Some of his jobs are cash in hand etc.

Can anyone give him a little advice on where he could go for a good mortgage deal?

Not really my area of expertise

MikeCardiff

iTrader: (2)

TBH he wont get one unless he has proper proof of income. He'll be looking at a self certifying mortgage and these are generally much worse as far as the options and rates go compared to normal mortgages.

Surely though ;0) if he is self employed, even getting cash in hand payments, he has proper accounts for his tax returns.....

fast bloke

Depends what size of a deposit he has. Some self cert deals are nearly as good as full status deals (2 year fixed full status - 4.49% - 2 year fix self cert 85% LTV - 4.55%)

hades

Have a look here for examples of self-cert mortgage deals with the bigger lenders. There will probably be a few smaller companies they've missed, but it gives a good indication.

MikeCardiff

iTrader: (2)

So, unless he has hidden away a deposit of 15 - 20% from all the undeclared income hes making, he can expect to be shafted with a pretty crap deal.

See, there are some benefits to paying your taxes and keeping proper records !

fast bloke

Tell him to try BM Solution or UCB for a decent deal. BM Solutions only deal through intermediaries, so he is going to have to find a broker that wont report him for tax evasion

Patt@firstime

90% self cert

sti-04!!

Who with ? Whats the rate ? Any redemptions ??

fast bloke

Bank of Ireland, BM Solution, GMAC, Mortgage Express, Platform - Mortgage Express start with 3 year tracker at 4.99 no redemption overhang

Patt@firstime

What he said

sti-04!!

Thanks I will pass the info on