Any 90% LTV mortgages available for New Build Homes?

kaylz39

brit1234 wrote: »

Can't the developer just drop the price 5% instead or is he just back to the land registry fraud game.

We would still need a 15% deposit, it would probably only save us about £1,000 at the most

Scottie2010

Hi, can anyone tell me what the best rates are out there for a new build with 85% LTV with 5% of the 15% deposit being gifted by the builder? I know not all lenders accept a builder gifted deposit......thanks all

brit1234

I will be glad when gifted deposits are completely gone, its simply fraud. People think they are getting a good deal when reality they are overpaying and at risk negative equity.

vaselinequeen

OP - check with Santander if you haven't already. I tried to get a mortgage with them for a 30yr old flat for 90% LTV as a first time buyer; they said they can only do 90% LTV if the flat is new as a first time buyer! It was Matthew Harmes I spoke to there who advised me of this.