Nationwide 95%

chilli_red

Hi,
Does anyone know the criteria for getting one of the 95% Nationwide mortgages. We have saved just over this but have fallen in love with a house and doubt it will still be on when we have saved 85-90%
Any help would be appreciated.

ACG

I think the nationwide criteria is that you save the deposit with them....but i could be wrong.

Darlington building society do 95% mortgages, im not sure if the property has to be located in a certain area or not.
Also a company called aldermore do them but you need a relative to act as guarantor on anything over 70 or 75% so they would need to have enough equity or savings to cover the remainder.

Im not sure there are many others on the market.

Dont take my word for it though, i havnt done much research on it so i could be wrong. Maybe go and speak to the nationwide and a mortgage advisor if they cant help?

Thrugelmir

Here's the link to the NW save to buy scheme.

http://www.nationwide.co.uk/savings/limited_access/savetobuy/introduction.htm

chilli_red

Thank you both very much x

Shutterbug_2

Me (and the fiancee) are currently doing the nationwide STB scheme. We are drip feeding the minimum of £50 per month for 6 months before we can apply. The rest of the savings (over and above the 5%) will be used for other start up costs.

I know this is brief, but hope it helps.