Skip to content

Avatar
Log In
Please consider registering
Guest
Forum Scope


Match



Forum Options



Min search length: 3 characters / Max search length: 84 characters
Register Lost password?
sp_TopicIcon
Need help
Avatar
nf2005
2 Posts
(Offline)
1
07/01/2021 - 10:25 am

Before COVID I had an agreement in principle but there were few properties on the market so it stalled the process of getting a property. I found a property last week at £300k, and put in an offer after viewing. My annual salary is £60k and I have a 10% deposit. The broker came back advising he only got 75% LTV because of my credit and that the banks he contacted have decreased their LTV. I’m really crushed, this was totally unexpected due to the fact that I had an agreement in principle earlier this year. Can you assist me get a 90% mortgage please. I’m a first time buyer. Thanks

Avatar
157 Posts
(Offline)
2
07/01/2021 - 10:25 am

Hi there,

Unfortunately there are a fraction of lenders at 90% loan to value for standard credit applications and the specialist lenders have all increased their deposit requirements.

Depending on your specific credit history, there are still specialist options with a 15% deposit but you will need to be assessed for suitability of these.

Alternatively, there are specialist lenders still operating within the Help To Buy market and therefore buying a newly built home requires only a 5% deposit

Sorry it is not better news

Avatar
nf2005
2 Posts
(Offline)
3
07/01/2021 - 10:25 am

Thank you for the taking your time to reply and explain.

Forum Timezone: Europe/London
All RSSShow Stats
Top Posters:
jrlsmc890: 12
beepboopbeep: 12
Allison79mw: 11
walt46: 11
ashley_987: 10
Redpanther89: 9
nursek: 8
M_wannabe: 6
RussH: 6
ERG005: 6
Newest Members:
testls
paulgough
ThomasMoubs
Davidjohn753951
Tim453
joric
RelyServices5
RobertHep
ncubemp
Help2022
Forum Stats:
Groups: 1
Forums: 12
Topics: 156
Posts: 556

 

Member Stats:
Guest Posters: 0
Members: 411
Moderators: 5
Admins: 3
Most Users Ever Online: 207
Currently Online:
Guest(s) 1
Currently Browsing this Page:
1 Guest(s)

Read Our Latest Reviews

4.94 Stars - Based on 2377 User Reviews

Your home may be repossessed if you do not keep up repayments on your mortgage.