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Ftb

13

Comments

  • MattJ_2
    MattJ_2 Posts: 82 Forumite
    Says 2008 ..

    The Estate Agents and vendor were shocked about this rule from 1st January 2006 needing 20% deposit as they are classed as new.. I wonder when this runs until ? How long before they are no longer 'new' ?
  • MattJ_2
    MattJ_2 Posts: 82 Forumite
    A bit of good news to soften the blow..

    RBS are going to refund the full amount of the home buyers report! :beer:

    Bad news is we are struggling to find another lender unless we go over 40 years, in my name only and ridiculous high interest rate!

    If we do find another lender, vendor wants valuer out on Mon/Tues at the latest so with the weekend looming not looking likely!
  • betmunch
    betmunch Posts: 3,126 Forumite
    So it was definately built in 2008?

    Think you are lucky to have got the homebuyer report fee back, well done.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • MattJ_2
    MattJ_2 Posts: 82 Forumite
    edited 20 April 2012 at 3:55PM
    Well, rightmove says 2008. Nobody else knows officially!

    Only RBS and Natwest that I am aware of have this silly rule re: Jan 06 onwards requiring 20%!
  • betmunch
    betmunch Posts: 3,126 Forumite
    Yeah thats definately their rule.

    I thought it would say when it was officially registered on the land registry. Someone must know officially.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Morgage_Confused
    Morgage_Confused Posts: 397 Forumite
    Tenth Anniversary 100 Posts Combo Breaker
    MattJ wrote: »
    we are struggling to find another lender unless we go over 40 years, in my name only and ridiculous high interest rate!

    i would say the term(40years) doesnt matter as it can always be adjusted yourself by overpaying. obviously the interest rate does matter so its down to how much you want the property v's interest %.
  • Dave_Ham
    Dave_Ham Posts: 6,045 Forumite
    Tenth Anniversary Combo Breaker
    Do you have any unsecured credit commitments?

    I would think that 90% is achievable still, although appreciate the need for speed..

    Also, can you please be more specific on the increments you refer to regarding income and what that looks like.

    As I said previously Natwest have taken the p!ss here although fair play that you got the survey money back...

    I wish you well...
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • MattJ_2
    MattJ_2 Posts: 82 Forumite
    Only loan I have is car loan at 223 monthly.

    Next increment will be April 1st 2013 to approx 23500.
  • Dave_Ham
    Dave_Ham Posts: 6,045 Forumite
    Tenth Anniversary Combo Breaker
    Ok, so it was the car loan restricting availability.

    May need a plan to settle this to achieve 90%.

    Halifax and Woolwich are typically the most flexible lenders on income multiples, so surprised at the time Natwest was best option to lend the most.

    Both also have an appetite to lend and without knowing all information on case, if I was brokering Halifax is always a likely solution when speed and flexibility are required...

    Fingers crossed for you
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • MattJ_2
    MattJ_2 Posts: 82 Forumite
    I've looked into re jigging the car loan but its a PCP deal and harder to do.

    Halifax will lend but only on my wage and only over 40 years and at 5.99% (according to the financial advisor we spoke to on Thursday) - have an appointment to see her today so hopefully we can get some news this morning.

    Have tried first direct which is a no go but they offer 90% at 4.89!
This discussion has been closed.
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