MORTGAGE HELP PLEASE - Anyone know anything about Self Certing???

[HellyBelly]

Looks like this is the only way we could get a mortgage at the moment as I'm a newly registered childminder so even though the money is coming in, they can't account for it until I have 1 - 3 years of accounts to show (so I've been told!)

I've been advised to self-cert. Anyone know anything about this?

ANY ADVICE at all would be great!

Thanks

Get yourself a good mortgage broker so they can get you a good deal, you might have to pay a couple of hundred pounds (not all charge) but you will potentially save as they have access to deals that aren't always advertised. If you have more than 25% equity I believe that a mainstream high street lender will generally do it. We've just in the process of doing this with the Halifax, no legal fees or valuation, 500 arrangement fee, 4.79% fixed for 2 years.

Thanks kittypickle, we're with the Halifax at the mo which was a good deal through our financial adviser at the time. We've had our FA in the family for years but I've been getting fed up of waiting for a reply from him so thought I'd come to good old MN for help!

I reckon we'll go ahead but I'm waiting for a quote from him. Problem we have aswell is that we're currently in shared ownership house so our mortgage is only £62k (very low for Reading). We want to move to 3 bed (non shared ownership) house and therefore it's a big jump.

All I want from my FA is a rough idea of how much of a mortgage we could get for say payments of £1000 a month!!!

So fed up waiting for a reply!

Nationwide just asked us to make a declaration of earnings and did a credit check to make sure that we weren't heavily in debt. Might be worth giving them a try.

The Chelsea BS do one that is quite reasonable

Have a play around with one of the mortgage calculators, mortgages.charcolonline.co.uk/Default.aspx have one I think. Then you should get an idea of what you are looking at.