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FTB/New Build - Minimum deposit
garymac
Posts: 26 Forumite
Any idea what the lenders think of new builds and maximum LTV's. Is a 90% mortgage unheard of with a new build?
(the development in question has been worked on for the past 5 years - house prices have increased from when they were purchased so negative equity doesn't appear to be an issue.)
(the development in question has been worked on for the past 5 years - house prices have increased from when they were purchased so negative equity doesn't appear to be an issue.)
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Comments
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Is it a house or flat? (It does make a difference).I am a Mortgage AdviserYou 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.0
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House - 3 bed semi detached.0
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Just done a quick search - N&P do new build 90% according to our sourcing software...its not always 100% accurate though so its worth double checking they do new builds at 90% and there could also be other deals out there...what your after isnt mainstream really it might be worth you speaking to a mortgage advisor.
As the properties are 5 years old there could also be some le-way with some lenders.I am a Mortgage AdviserYou 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.0 -
What about an 85% ltv on a new build flat? Which lenders offer this?May'18 DEBT FREE!
£6025 PB's: £1427 Nutmeg Pot: £51'174 Company Shares £512.09 InvestEngine £8.21 Freetrade £569.46 Stake
£2457.92 TCB.0 -
Hi Gary are you buying a new build from a developer? Is it built yet or off plan? On one of the houses I looked at I asked the builder for a 5% gifted deposit, free carpets and flooring, they said yes there and then.
It may allow you to get a 85% LTV if you can get a gifted deposit.0 -
gary's post is from May 2012.
Fletch has decided to Lazarus it because it's related to what he wants to know about, max LTV for a newbuild flat.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Um, "Lazarus it"??
Just thought it better to add comments to a relevant thread which was already going rather than start a fresh one.May'18 DEBT FREE!
£6025 PB's: £1427 Nutmeg Pot: £51'174 Company Shares £512.09 InvestEngine £8.21 Freetrade £569.46 Stake
£2457.92 TCB.0 -
Yep.
Dead thread walking.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Guilty m'lud.
If anyone else is doing the same thing then the lenders lending 85% for new build flats are Woolwich, Principality and HSBC.May'18 DEBT FREE!
£6025 PB's: £1427 Nutmeg Pot: £51'174 Company Shares £512.09 InvestEngine £8.21 Freetrade £569.46 Stake
£2457.92 TCB.0
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