Getting a mortgage

NuttySupplier · #1 (**permalink**) 30-01-2006, 01:42 PM

is basically impossible!

We've got one, but we just came to the end of their special offer period, so now we want to change it to another company... but hey, guess what? We now don't earn enough to have the self and same mortgage! It doesn't seem to count for anything these days that we've never missed a payment and that our parents (no matter how old we are
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) are prepared to be guarantors.

We're going down the route of a self-certified mortgage as we'd like to increase the amount we borrow. I'm writing this so that you know about them, they're not that well advertised.

With self-certified mortgages, the institution does not ask for any proof of income. A great
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for self-employed, newly employed (with no P45 from last year etc.), the soon-to-be employed and the would-rather-be employed etc. You have to be sure that you'll be able to pay it back though. I think they just realise that us 'professionals' will sort it out before we get into a situation where we get our house repossessed... like sell up and get somewhere smaller or something.

Footiegirl · #2 (**permalink**) 30-01-2006, 04:45 PM

mortgage
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we gave up on that when we were
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ed out of the building society when we told themwhat we
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ly earned - and that was when I had an NQT post!!!

Hoping to
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t savinng for one when I
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t earning full time [smilie=hate-nono.gif]

Goodlistener · #3 (**permalink**) 05-02-2006, 08:25 PM

Despite ma
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it to the top of the pay scale, I've never had enough to buy a house.

We would love to but...

NuttySupplier · #4 (**permalink**) 06-02-2006, 12:23 AM

I was just incredibly lucky to be wanting to get on the ladder when house prices had just crashed, my OH would never had stood a chance if he hadn't met me!

clarabelle · #5 (**permalink**) 06-02-2006, 04:26 PM

My partner and I are both contractors I suppose but we were very lucky getting our mortgage with Nationwide. I suppose there are a lot of contractors in Essex, what with Ford and everything. My mum and dad had a savings bond in my name that had matured enough to put down the 10% deposit. If my boyfriend hadn't met me, he would never have bought a house either! It's teamwork as he does all the DIY and some of the coo
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!

katmiddlemiss · #6 (**permalink**) 27-02-2006, 07:31 PM

Hiya Nutty, just been having a look through this section and it's brilliant!!! You really do hand out some useful info! thanks!

On the morgage side of things... i dont think ill ever be accepted for one but just a quick question. As a supply teacher how can you get one? My husband and I cant even get a flat to rent because they say one of us has to have a permanent job or a guarantor(my best mate might help me out there but only for rented property)

Thanks loads for the info though it's great!

Katie x

clarabelle · #7 (**permalink**) 27-02-2006, 07:40 PM

Both my boyfriend and I are contractors as such. Our mortgage is with Nationwide. As long as you can supply proof of work, i.e. payslips for the last finiancial year, they should be ok.

katmiddlemiss · #8 (**permalink**) 27-02-2006, 07:54 PM

Thanks for the advice. We have plenty of payslips but not for our current jobs!! My husband was in the RAF, i did 2 terms supply then various admin temping over the summmer we moved back up here and only been doing supply since October n Trev's been doing temp work in a factory since then too.

So i take it we need payslips for the same job?? would be good if they let us have a morgage based on the fact we have been constantly doing some work all the time in the past!

clarabelle · #9 (**permalink**) 27-02-2006, 08:05 PM

I just realised I practically repeated my previous post! Sorry!

NuttySupplier · #10 (**permalink**) 27-02-2006, 08:54 PM

You could try as
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an independent financial advisor about self-certified mortgages, if you've got payslips for anything, it's proof that you can earn... IFAs are generally free (if they arrange a mortgage/loan/life insurance, they earn about 0.45% from it) so it's easy enough done... there's loads of info on the net about them too... but it's better to actually speak to someone...

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