90% home mover mortgage

Vixi

Help please!

My husband and I currently have a mortgage with Halifax at 3.99% - we had hoped we could port this mortgage to buy our new property (whihc means borrowing a lot more) but this is not possible. Although Halifiax will lend us a crazy amount of money, the rate they offer us is 6.49%

We are selling our home and buying a property for £205,000 - we have 10% deposit.

Does anyone have any ideas as to the best deals about - we don't want our monthly repayments to be higher than £900 ish ideally.

Also, how long will it take to get in place - I am really worried about losing our sale if we don't move quickly.

Sorry in advance if I'd missed out any important details!

Thanks

Vixi

Vixi

Anyone?

Having had a quick look, it seems Britannia will do a 3 year fixed at 5.09% which is much better - any others?

I'd really appreciate some help as I really know very little about mortgages!

beecher2

Book an appointment with a mortgage advisor and get some help going through your options. Take your credit reports with you - they'll need to be squeaky clean at such a high LTV.

Vixi

No issues with our credit reports - both are squeaky clean! Just wondered if anyone knew of any deals out there at the moment...

Bluemeanie_2

HSBC have got a variety of 90% LTV mortgages. One at 4.99% (lifetime tracker).

They are picky though apparently. I got approved no problem, but I was borrowing less than 3 times my salary.

System

Yorkshire Building Society do a 3 year tracker for 4.19% (495 fee) or a 3 year fix at 4.89%.
These are 90% LTV. I know they can be fairly strict on lending, so may depend on salary etc

Vixi

Thank you for all your help - we have sorted a mortgage with Brittania :beer:

kingstreet

Vixi wrote: »

Help please!

My husband and I currently have a mortgage with Halifax at 3.99% - we had hoped we could port this mortgage to buy our new property (whihc means borrowing a lot more) but this is not possible. Although Halifiax will lend us a crazy amount of money, the rate they offer us is 6.49%

We are selling our home and buying a property for £205,000 - we have 10% deposit.

Does anyone have any ideas as to the best deals about - we don't want our monthly repayments to be higher than £900 ish ideally.

Also, how long will it take to get in place - I am really worried about losing our sale if we don't move quickly.

Sorry in advance if I'd missed out any important details!

Thanks

Vixi

Wouldn't Halifax port the 3.99% on the current amount and add the extra borrowing at 6.49? What would the average rate have been? What penalty are you having to pay to get out of the 3.99%?

What have you got from Britannia?