Northern Bank Mortgage

Graham727

Hi,

Has anyone had any dealings with the Northern Bank for a mortgage??

They where offering 100% mortgages but this offer has ended and they now offer 95% mortgages.

We have rougly a 10% deposit with the view of applying for a £146k mortgage.

Any info would be greatfully appreciated.

Thanks in advance!!

saverbuyer

Graham727 wrote: »

Hi,

Has anyone had any dealings with the Northern Bank for a mortgage??

They where offering 100% mortgages but this offer has ended and they now offer 95% mortgages.

We have rougly a 10% deposit with the view of applying for a £146k mortgage.

Any info would be greatfully appreciated.

Thanks in advance!!

Did co-ownership not work out in the end?

The problem you will have with Northern is the LTV restrictions on new builds. They may (if you have a really good credit rating) at 95% but I think this only applies to old houses. Lots of lenders require a 15% deposit (some more) for new builds because of the new build premium you pay.

If the lender repossessed they would be unlikely to get the "new" price you paid.

I would look to negotiate much better with the builder. Did you not get any money off? I wouldn't jump in.

Graham727

Hi Saverbuy,

Decided against co-ownership in the end. Happy to just proceed with a full mortage.

We are in nogitations with the builder at the minute. We have already been given some discount but chasing for more.

Just wanted some feed back on the Northern Bank mortgages. Trying to do as much research as I can at the minute to see what our options may be.

saverbuyer

Graham727 wrote: »

Hi Saverbuy,

Decided against co-ownership in the end. Happy to just proceed with a full mortage.

We are in nogitations with the builder at the minute. We have already been given some discount but chasing for more.

Just wanted some feed back on the Northern Bank mortgages. Trying to do as much research as I can at the minute to see what our options may be.

I would probably post over in the N.I forum you're a better chance of getting help. The Northern is a pretty local bank.