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Vendor Mortgages..Help!?
kerrywebsta
Posts: 4 Newbie
Hi,
Me and my partner are looking into buying our first home and the one we have seen is on the market for around £135,000. We need to find a 10% deposit.
A colleague of mine has suggested talking to our bank (Halifax) about something called vendor mortgages?
The vendor has told us that they are open to offers and my colleague says if we can bring them down on the price then this will count towards our deposit.
Can anyone shed any light on this? Or suggest any helpful tips about getting the best mortgage.
Thanks
Me and my partner are looking into buying our first home and the one we have seen is on the market for around £135,000. We need to find a 10% deposit.
A colleague of mine has suggested talking to our bank (Halifax) about something called vendor mortgages?
The vendor has told us that they are open to offers and my colleague says if we can bring them down on the price then this will count towards our deposit.
Can anyone shed any light on this? Or suggest any helpful tips about getting the best mortgage.
Thanks
0
Comments
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Erm it might do... but have you not saved any money yourself?
You really should have a deposit saved. You'll need money for solicitors, surveys etc ...0 -
No deposit = No mortgage.
Sorry."You were only supposed to blow the bl**dy doors off!!"0 -
Your colleague is way out of date. Lenders won't in general entertain this.kerrywebsta wrote: »my colleague says if we can bring them down on the price then this will count towards our deposit.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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