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FTB Needs a 90% LTV Mortgage
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Yeah, I've discovered using moneysupermarket that if I lend more but are able to put down a 85% deposit then the monthly rates are better than just using a 90% deposit on a cheaper house.
The thing is I cannot save a further 5% as I need to move out in July from my parents and renting will just eat away any savings
The only way I can see it working is if the house seller could agree to do a 5% towards deposit or 5% cashback after completion.
But how is this arranged? through solicitor or the mortgage company?
Why would renting eat away at your savings any more than the interest part of a mortgage would?0
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