Mortgage advice please

SPOTTEDCUP

just been informed halifax gave us wrong outstanding mortgage balance 4 months ago before we put our house up for sale.
this now means our 20% deposit which would have guaranteed our new mortgage will now only be a 10 - 15% deposit.

we were confident of getting a new mortgage at a fair rate with 20% deposit.

question is how much of a difference will only having 10-15% deposit make?
And will we still be able to use a high street bank / buildng society?

SPOTTEDCUP

can anbody help?

_Andy_

Will mean slightly higher rates, just shop around for the best deal

Cannon_Fodder

How long is a piece of string... Personal circumstances, credit history, tracker/fixed, you haven't said what you think a "fair rate" is...

Presumably you would start at Halifax, as porting will save fees..?

Or, where did you find 20% deals that you thought looked fair?

85% deals aren't totally awful. High street still possible. Comparison websites would be a start point.

Get a personal recommendation for a local mortgage broker?

Leon_W

I can't see it making any difference whatsoever if your 20% deposit has become a 15% deposit. Most lenders LTV bands cover both scenarios with the same products.

However, if you're now talking of something between 10-15% (ie: under 15% ) then that is a whole different kettle of fish as you are in the 90%LTV band. Rates are high, availability is low and credit records must be squeaky (and then some).

Aim for the 15% deposit.