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90% LTV on New build
coupe_2
Posts: 13 Forumite
Hi does anyone know of any lenders who will lend 90% Ltv for a new build property. I have a 22,000 deposit for a house at £199,950 doesnt help that its a new build, so if anyone can help me it would be greatly appreciated.
Coupe
Coupe
0
Comments
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Hi Coupe,
You can try Nationwide who I believe will still lend at 90% LTV on new builds. However their criteria is quite strict so please ensure that any application is presented correctly and consider using a good mortgage broker.
Good Luck
Lisa0 -
Recently i was in your shoes and couldnt find any lender willing to lend 90ltv, it really sucks. i had to withdraw my offer, i hope you can work something out0
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Thanks for that Ive just called the Nationwide and they will only lend 85% LTV on new build!!! Any more ideas anyone?0
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You are most likely going to need to get a bigger deposit or haggle the price down. The lenders are aware that prices have further to full especailly in newbuild flats as they are the most overvalued. You should be a ble to haggle the price down.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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Nationwide will accept 85% LTV where the builder 'gifts' you a 5% deposit.0
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I don't think I would have much success with that as theyhave just released 2 more plots on the other side of the road £15000 more for same house!!!!! I think I might have to give up ,0
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It's worth trying. How long has this house been on the market? How many on the development have sold recently? Prices for those?
It may be that the developer has inflated the price knowing full well that people will offer lower so they are trying to minimise the reduction. Remember they can ask for whatever price they like, doesn't mean that someone will pay that though does it.:A
:A"Everyone is a genius. But if you judge a fish on its ability to climb a tree, it will live its whole life believing that it is stupid" - Albert Einstein0 -
Nationwide are back in the market of providing 90% mortgages on New Build properties, I think they changed their criteria on the 4th of July. Hope you enjoy your new house0
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Only on houses it would seem, flats are still 75%LTV (just if anyone needed to know)0
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