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95% Mortgage

Hey guys

i currently have a shared ownership flat, we have just put it up for sale, we have found a house that we would like to buy but we do not have enough deposit for a 90% mortgage, we have been looking for a 95% mortgage but can not find one. We have our mortgage with abbey at the moment but they can only offer us a 90% mortgage !! Can someone help. Nationwide and halifax only offer 95% to current customers but we would be new customers

Comments

  • Fire_Fox
    Fire_Fox Posts: 26,026 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    You are unlikely to find a 95% mortgage for new customers as banks are being much more conservative with their lending these days. If you can't save up the extra 5% can you afford to run a larger house? You won't only have larger mortgage to service (interests rates will rise eventually), higher council tax, higher utility bills and more maintenance costs unless you are buying a new build.
    Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️
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