Add bank loan to deposit for better LTV

grey_lady

" Originally Posted by VIGILANT22 so the mortgage is under 85% now?"

The reponse: "Need to read post #123. Lender has said to borrow £22k to reduce LTV to below 75% LTV as one option."

So it was obvious that taking the loan that the Halifax suggested to the OP would have brought the LTV down to 75%.

Anyway this is getting silly, apologies to the OP for hijacking the thread.

VIGILANT22

Indeed it was a question....

and for the OP as I and other have said the lender will not accept loans as deposits as this is just adding to your liabilities and would be reduced from total borrowing....

This is how the NR Together was operated max 95% LTV mortgage and going up to 125% with the difference being made up of unsecured ie personal loan....So you can probaly see why it's not acceptable to lenders.........

marc-h_2

I don't think I explained my position properly but in summary it seems there may be a chance a bank would accept a loan as part of the deposit but it is unlikely. I will speak to my current provider first anyway and see what they say. I may then speak to a broker, although with 2 years left on a fixed rate I think the early redemption fees would rule out the possibility of paying it off completely.