www.iva.co.uk

I just wanted to say to all the contributors a big thank you! This is my first day on iva.co.uk and I have had an enlightening experience (done no work mind!) As a lawyer we sit in our cosy offices and wax lyrical about what should/ shouldn't happen and tut-tut when it doesnt work out. Even those of us who like to get into the mechanics of what we advise on still dont really understand. I am sure I will continue to learn on this site.... excellent job!


Julian Sampson
Solicitor
Wright & Wright LLP
www.wrightandwright.com
See my article in Clean Slate magazine

Hi Julian - just wanted to say hello and a warm welcome! It is wonderful to have a lawyer expert on the forum - do expect to be busy as a result!!! And I confirm that there is not a day that goes by when I do not learn something new from this unique website which enriches my knowledge and ability as a a professional immensly.

Hope to see you for many days to come!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Hi Julian
Just popped to say hello and welcome.
Your input to the site will be invaluable, and I am sure you will learn new aspects to situations as well.

Ang


Please visit my blog at http://aguise.blogs.iva.co.uk/

Hi Julian.
A big thank you for joining us.
I'm sure that you will find it rewarding.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

I am sure I will- its captivating! I should have been home hours ago!

Julian Sampson
Solicitor
Wright & Wright LLP
www.wrightandwright.com
See my article in Clean Slate magazine

Hi Julian
Welcome to the Forum. You have been busy - 20 posts in one day !! Not a fee earning day for you then !!
Sharon

Hi Julian and welcome to the forum. As the others have said it's good to have a legal expert on here!

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

Hi again Julian, as I have already said, it's nice to see you on here, wait until you start login on at home as well - just to keep up...

FREE ADVICE IS THE BEST ADVICE

LEYBRIDGE LIMITED
Mortgage Broker & Mortgage packager
Specialising in adverse credit.

Firm FSA No:313790
Personal FSA No:MJB01557

see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf

I agree, you just can't help logging on - I access the site several times in the day especially when having a bad day - it gives me encouragement to carry on !
Mike - have posted about self-cert mortgages but posts seem to have "disappeard" could you give me a brief overview ? What do lenders want to know, credit check etc ?
Sharon

Hi Sharon

Not sure what you need to know exactly but there are generally two types of ‘self cert’ accepted these days

‘Self cert’
Self employed - the amount declared is verified by an accountants certified statement or bank statements or whatever the particular lender requires as proof.

‘True self cert’
Self employed - self declared earnings from various sources – basically you sign to say that you earn X amount, you still may be asked for proof by the lender if they are not confident that you are able to earn the amount declared.

Just a couple of points;
Most lenders no longer accept employed, self cert declarations or applications.

Please do not be tempted to declare more than you actually are able to earn, you will not be doing yourself any favours in the long run, and this may lead to you committing mortgage fraud.

Talk to an advisor about what can and can not be declared for the purposes of self-cert (you would be suprised).


FREE ADVICE IS THE BEST ADVICE

LEYBRIDGE LIMITED
Mortgage Broker & Mortgage packager
Specialising in adverse credit.

Firm FSA No:313790
Personal FSA No:MJB01557

see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf

Hi Sharon,

Lots of lenders accept self-cert employed applications.

Some people choose this option as it would take time to collate the requisite documentation to verify income and they have pressing reasons to accelerate the speed of remortgage that outweigh the premium that the lender will charge. It also particularly applies where the applicant has additional sources of income in addition to being employed which cannot easily be documented.

Mike's absolutely right about mortgage fraud. No ethical broker would submit an application that they had reason to believe was fraudulent and lenders apply reasonability tests to compare occupation to self-certified income. If they are doubtful they entirely correctly retain the right to verify the self-certification in the manner of their choosing.

Self-cert is an incredibly important part of the mortgage industry. It has given the opportunity to people who previously could not verify their income in the manner a lender might choose (and were therefore excluded) the ability enjoy the benefits of home ownership.





Andrew Graveson
Independent Mortgage Broker & Bright Oak Debt Management
andrew@brightoak.co.uk
www.brightoak.co.uk

Guys
Thanks for the advice. Hubby is looking at remortgaging on a flat he owns to raise monies to pay off my creditors. He is self employed, but we do the accounts as it is a small company and quite straightforward. We had heard of self-cert but didn't really know that much.
Sharon

Hi Julian
Just wanted to say this forum seems to be going from strengh to strengh and how valuable it is to have another professional expert join our site.

Tracy

Just wanted to add to the welcomes Julian ... I've not been around for a bit as I've been off tending to anxious psychology undergradaute students ... so it was a pleasant surprise to see you pop up. This is a fascinating, valuable and educational forum and I am sure that you will be a tremendous asset [:)]

Debbie

P.S
Talking of photographs ... how is Jamie getting on Mike? [:)]

www.familyceremonies.co.uk

www.soulgrowth.co.uk

Hi Julian

Yes welcome and it is nice to have a legal brain on board!

No doubt you will keep on the legal staight and narrow!!!!