AIP withdrawn, what now 90% ltv need interest only

getmore4less

It was early, missed the £37500 each so only a joint multiple of 3.5 thats much better but still going to be a strugle at 90%LTV and interest only not a lot of lenders doing those sort of deals


The scary bit was that you did not seem to know how to work out the income multiples.

Spreading the debt across both houses might be a better option total stays hte same but the LTV impoves on the new place so might be able to look at someone like FD offset that can be run as Interest only.

riverboat2001

Well to be honest i had not worried about the multiples as two friends earning pretty much the same had borrowed what i'm looking for, and having gone on a few bank websites and put the figures in, they were all coming out with about 280k.

The mortgage on the flat is just fine as am currently on a repayment basis.

And yes, i'm VERY fortunate in that if things do go wrong Mum has said she will help out.

Post Office do a 90% mortgage, but whereas they did do a total interest only one, now it's 15% repayment and the rest interest only.

It's now early for me, and having just woke up, i have no idea how much the repayments will be!