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95% Mortgage
emily-tom2009
Posts: 5 Forumite
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
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
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Comments
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I am not aware of anybody currently doing 95% lending for new customers.emily-tom2009 wrote: »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
Nottingham Building Society, Clydesdale Bank and Yorkshire Bank have all been mentioned on these boards over recent months as doing 95% lending, but they certainly don't advertise the fact on their web sites. I'm not aware that they are still offering such deals.
I would guess that if they do they are very picky about who they lend to.
My advice, for what it's worth, would be to save every penny until you have a 15%+ deposit! That way you will be able to access mortgage rates that are a little bit friendlier.0 -
I've been told by my broker that the Halifax do a 90% mortgage where you pay 5% deposit and vendor pays the other 5% on completion. When you make an offer on the property, you would have to be clear from the start that this is what your offer involves.I am a debt free wannabe. Aiming to be debt free by Xmas 2015.
Loan: £21 211.65 CC1: £2885.89 CC2: £5 082.52
CC3: £6 704.13 CC4: £2 191.64
Total debt: £38 075.83 :mad:0 -
Yorkshire bank - same company as Clydesdale do a 95% LTV but the interest rate is 6.99% and only for FTB. Some building societies do them if you are buying a house in the area.Debt free by Dec 2011
#178 Pay as as much as you can in 2011 £2305.80/£7489.27#114 Crazy clothes challenge £60/£60
#1369 Sealed pot challenge 4 £9.72
#139 Virtual sealed pot challenge £15.500 -
I'm currently looking for a 95% Mortgage as well, they seem very hard to find as well.
I really hope they start to offer them soon, in an ideal world I would get the 10-15% deposit required but when that's £15 - £20k then it isn't that easy to do
Good luck and I hope you find something :T0
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