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Help - with regard to deposits....
readytofly
Posts: 93 Forumite
I have used mortgage calculators to try and work out how much we may be able to borrow. So for example, nationwide may lend us up to 142,000 for a 90% LTV mortgage - does this mean
A- that we can buy a property of up to 142,000 and pay 14000 deposit,
B- we could buy a property over the mortgage price and we pay the 10% difference? i.e. we could actually get a property worth 156000 with a 15,600 deposit and then the mortgage would be 140,400
I hope this makes sense
TIA
A- that we can buy a property of up to 142,000 and pay 14000 deposit,
B- we could buy a property over the mortgage price and we pay the 10% difference? i.e. we could actually get a property worth 156000 with a 15,600 deposit and then the mortgage would be 140,400
I hope this makes sense
TIA
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