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95% mortgages, are there any?
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breakespeare
Posts: 1 Newbie
Hi, having an awfull day curtesy of Halifax! We had a mortgage in place with them to buy a property using their vendor gifted deposit scheme (we have 5% and vendor "gifted" 5%) everything was agreed, the mortgage changed from AIP to official offer, survey and searches all done, set to complete end of month but today Halifax have said they wont lend any money on the property as the current owner has owned it for less than 6 months (what difference that makes I dont know!!) Really struggling to find anyone that will either do it as 95% when we are not existing customers or any lender that will is able to use the 143K valuation that it has passed in order to loan us 129K.
Anyone got any suggestions??
Anyone got any suggestions??
0
Comments
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Welcome to MSE!
Sit tight and save up another 5% deposit plus at least three months salary in the bank. Owning you own home is far more expensive than you imagine, if you are mortgaged to the hilt and something goes wrong with the house, job or health you will be up the proverbial creek. Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️0 -
Ask for 10% gifted deposit, or 10% off the price?0
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