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Mortgage with a loan for the deposit

jljlg102 · 2012-08-26 18:10:51

Hello Everyone I was hoping I could get some advice on the below situation? I have been giving conflicting information in regards to the above. I have spoken to Natwest and Lloyds and both have said that if I had the Loan from another bank then it would not affect the mortgage application as long as we were ok with…

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betmunch Posts: 3,126 Forumite

3 September 2012 at 4:38PM

martinsurrey wrote: »

a possible get around could be for you to ask a relative to take out the loan in thier name and 'gift' it to you.

you then meet all the repayments to them.

a sort of bank of Mum and Dad, but with an interest rate.

You have relatives that will take out a loan and then give you the money?

If your paying it back to the relative its still a loan.

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.

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Mortgage with a loan for the deposit

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