Quote:
|
Originally Posted by kronas
there is no accurate figure for the amount of self certificated mortgages, although it sits at about 30-40%, most people rely on the interest rates to stay low, atthe current conditions of over borrowing through credit and mortgages, the assessment is rates will be going up.
|
I work in the mortgages industry, in the area I work, the level of self-certs is less than 10%.
People are NOT allowed to over borrow on mortgages, it is strictly regulated (by the mainstream lenders) and there is a limit on what you can borrow.
Earn less than 20K? - 3.5x salary plus second salary
Earn more than 20k? - 4x salary plus second salary