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New build - 90% LTV - neg equity part ex - valuation lower than sale price!
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Afaik, if it's both of your names on the deeds and the mortgage then you both need to be FTB.
If you can afford the mortgage on your own then you could be the sole owner but have your Mrs contribute but her name wouldn't be on the deeds.
Though as you're part exchanging I'm not really sure what what to say :S unless the house was inherited? if this makes any difference?
I've got the valuation for my new build happening tomorrow. I've read Nationwide undervalue new builds, combined with the fact the build list price was for a detached and it's only semi (has a townhouse build on the end, though I did have a 6% reduction and is on a premium spot on the development) I've a feeling I might have some negotiationg to do.
Best of luck,0
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