Self cert mortgages?

[nicm]

Hi

does anyone have any info on these or have one? are there any drawbacks that i'm not being told about? i went to see the mortgage advisor yesterday who said if i get 10-15% deposit then i can have one, as i'm self employed and max mortgage we would get going the normal route ie 5% deposit would be under £75000. Not good as the cheapest house in the area is about £95000. also does anyone know if there are companys which do it with a 10% deposit?

Thanks in advance

I would reccomend you contact a mortgage broker, they will have details of all the latest deals from many lenders.
Try:
Savills Private Finance
Chase De Vere
Charcol

Bristol and West do a 90% self cert mortgage, if I remember rightly, so might be worth finding out more. ..

we had one with the chelsea and we had a 10% deposit

I've done this when I was self-employed and I used a mortgage broker to shop around for me and get the best deal.

Try charcoalonline.co.uk - good quality internet mortgage site which will have all the mortgages for you to compare.

You can also talk to someone free of charge and they will advise you on what if any mortgages fit your bill.

Their commission is paid by the mortgage companies so do be wary if you find yourself being pushed towards one mortgage. But a very good reference tool.

Firstdirect and Intelligent Finance were the two companies that were prepared to lend us the most money when I was thinking of taking on a huge mortgage. Luckily common sense prevalied but they might be worth a look

Northern Rock do some good deals too, especially if you're not wanting a 'standard' mortgage.

Hi

We had to get a self cert mortgage and ended up going through Bank of Scotland. However we did have to pay a 15% deposit and they have done nothing but mess up our payments ever since.

Good luck - it is hard when you can't get the amount you want. Hope it all works out for you

xx

thanks for all your ideas. we have a mortgage advisor coming tonight so hopefully we'll get one sorterd then. i'll print this off and ask him about these as well. hopefully our offer will be accepted on the house and everything will start rolling!! so excited but also very very nervous!!

we had a self cert with the chelsea building society and it was very straightforward

Nationwide didn't even ask us to self cert - just said how much money we had coming in and then they credit checked us. Bingo.