Even though I'm self employed, I managed to get my papers in order to get a high street morg three years ago.

However, a good friend of mine, who works in the same buisness, has not been so organised and is thinking about a self cert morg. I personally avoided them when I was shopping around, anyone out there got any thoughts on these mortgages? She has a deposit of about £50,000, looking for a place of £130,000 over 25yrs.

Thanks

why not? the biggest part is getting the house isnt it? you pay a higer percentage but she can get a normal morg after her tie in period if required.... with that massive deposit her payments will be low anyway... nb these morgs arnt as easy to get anymore

quote:

Originally posted by Teknofish:
why not? the biggest part is getting the house isnt it? you pay a higer percentage but she can get a normal morg after her tie in period if required.... with that massive deposit her payments will be low anyway... nb these morgs arnt as easy to get anymore

The higher % rate is what I meant, re putting me off them.

We have a self cert: 1.79% above Bank of England Base Rate.

We are swallowing this for a couple of years and then plan to change mortgage as soon as we're able to get a "normal" one.