Hi,
I have not been in full time employment now for 3 years (I am fortunate in that my girlfriend is salaried).My buy to let property is now unencumbered but not currently tenanted as we have recently been using it as a sort of holiday home so I am not receiving an income from that. My principal place of residence i.e. my home is also unencumbered.
I am now looking into financing another property to let. I have never needed to use a mortgage broker and have not sort any advice. Before taking this course of action I'm wondering if someone here could give me some general advice as to what I can expect to be recommended to me. My understanding is that a self-cert mortgage is the way to go. My main questions are:
1) Will my application be successful owing to the fact that I have no income to certify or is there a way around this?
2) Ideally I would like to borrow at the best rate but using the minimum deposit but will the deposit have to be greater then the standard 15% because of my non status. Assuming a "yes" to 1)?
3) And/or will I charged a higher rate for my non-status?
4) I understand the vast majority of brokers do not charge a fee as such and earn their money through commission from the mortgagor. Under the FSA act they are legally obliged to find you the most suitable deal but is it better to go to a broker who charge a fee to eliminate any chances of bias towards a deal which provides them with the most commission?
Thank you
Albert

Hi Albert,
Up to the end of last year I was a mortgage advisor working for a broker who doesn?t charge a fee. There is all sorts that they can do even more with buy to lets are they don?t always require you to prove any income. As I am not a mortgage advisor now I cannot give you any advise due to the regulations of the FSA but I still have good friends at the company who would be happy to help you. Email me for detail.
Thanks
Joseph