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Deposit for house purchase
Rily1
Posts: 3 Newbie
My husband and I have recently had a formal mortgage offer through Halifax but need to raise an extra £10K for the deposit.
But worried if we apply for a loan through a bank, we may have our offer withdrawn from Halifax.
Halifax have done credit checks, but will they do them again before exchange?
Anyone give us any advice on best way to go about it, as dont want to jepordise the offer. It has taken us 2 months to get formal mortgage offer.
But worried if we apply for a loan through a bank, we may have our offer withdrawn from Halifax.
Halifax have done credit checks, but will they do them again before exchange?
Anyone give us any advice on best way to go about it, as dont want to jepordise the offer. It has taken us 2 months to get formal mortgage offer.
0
Comments
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No lender will accept a personal loan as a source of deposit
No loan provider will lend for that purpose.0 -
Lenders do.. do final checks before offer....... to ensure no change in status from previous report ie additional borrowing as this changes the affordability the mortgage was calculated on...0
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We have already received a written offer, but do they do final checks at exchange of contracts on house.
We have £15K deposit but looking to raise between £5K-£10K. So a mortgage company would frown on taking a loan out?0 -
As stated on both threads, no mortgage lender will accept a loan as a source of deposit and no loan provider will lend for that purpose.
You can't afford what you'd like to do so need to keep saving.0
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