self cert mortgage
Can you get a 100% self cert mortgage???
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any1 know?
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Yes, John Charcol used to do them
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Self certs used to insist on 20% deposit , which I think was reduced to 10% by most lenders. I would be surprised if you can get 100% - But I could well be wrong.
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How do you go about getting a self cert? Do the rates differ from the average mortgage on offer?
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Originally Posted by davegtt
How do you go about getting a self cert? Do the rates differ from the average mortgage on offer?
Originally Posted by PeteBrant
Self certs used to insist on 20% deposit , which I think was reduced to 10% by most lenders. I would be surprised if you can get 100% - But I could well be wrong.
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Originally Posted by RMA26
No idea, Dont have a mortgage yet mate
You can def get em |
OK lets say I want a 90% self cert mortgage, where would I go and find one?
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pick up the exchange and mart loads of companies do them in there
and id agree 90% / 80% is the norm who would give a 100% morgage to someone with no proof of income how would they get there mony back if it all gos tits up |
Originally Posted by davegtt
OK lets say I want a 90% self cert mortgage, where would I go and find one?
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You can definitely get 100% self cert but the limit is usually £150,000. Above that the minimum deposit is 10%.
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Originally Posted by KiwiGTI
You can definitely get 100% self cert but the limit is usually £150,000. Above that the minimum deposit is 10%.
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Originally Posted by 3times
some do take the rise with fees
To answer the question, yes you can get them, any decent IFA or "mortgage broker" should be able to source you one, but then again, if this is your only option to buy a property, I would respectfully suggest that you save up some cash first to get a better deal. Any 100% self cert is going to be poor value for money, compared to what you could get if you could get a bit of a deposit together. |
Originally Posted by 3times
Can you back this up by telling us where from, as I know plenty of people that would take advantage.
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My situation is that the wage that my and the missus bring home only gets us about £100kish from mortgage companys, i bought my first house last year and am looking at moving, im looking for approx £120k, i can afford to pay an extra £100-150 a month for the extra mortgage so i thought self cert was the only way to go, what do you think???
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I think you should ask your existing mortgage company first
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Originally Posted by davegtt
OK lets say I want a 90% self cert mortgage, where would I go and find one?
To answer some other questions, they don't really differ in the interest rates either. |
the PITA for me is I want to stretch the mortgage over 40 years if I decide to go down that route, not decided on anything 100% yet though.
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does any1 do 40yrs??? i thought the max was 35?
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Dunno about the self cert thing cause I never looked into it but I know some lenders do the 50 years thing but I just need to stretch it out over a slightly longer period to get the payments down for a while. Like I say Im not 100% sure Im going down that route anyway but looking to buy a property if need be and I'll only be using my wage which Im only allowed about 100k and I need ideally about 120k.
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Originally Posted by Robert Rosario
Sorry, next time I will work for nothing. My mistake.
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Originally Posted by 3times
Not at all. I was refering more to how much is charged. I charge fees, offset by the proc fee. I have a minimum I need to earn per mortgage and adjust accordingly.
Incidentally, I work the same way. |
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