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Confused and worried help!
hmmthinking
Posts: 9 Forumite
Hi
I am currently in the process of buying a property for £90000. I went through a broker to get my mortgage as I am self employed and don't have wonderful credit. We agreed on a Gmac mortgage fixed for 3 yrs. I have a £9000 deposit and the broker said all this would be fine. I am a first time buyer buying with my partner (also a FTB). We have just put in our application and we were all excited until I decided to go and look on Gmac's website and noticed on their lending criteria it says that the maximum they will lend FTB o a self cert basis is 85% of the total price of the property. Now Im concerned as we simply don't have the extra 5%. Has our broker really badly advised us, or do gmac sometimes lend 90% when you go through a broker?
I am currently in the process of buying a property for £90000. I went through a broker to get my mortgage as I am self employed and don't have wonderful credit. We agreed on a Gmac mortgage fixed for 3 yrs. I have a £9000 deposit and the broker said all this would be fine. I am a first time buyer buying with my partner (also a FTB). We have just put in our application and we were all excited until I decided to go and look on Gmac's website and noticed on their lending criteria it says that the maximum they will lend FTB o a self cert basis is 85% of the total price of the property. Now Im concerned as we simply don't have the extra 5%. Has our broker really badly advised us, or do gmac sometimes lend 90% when you go through a broker?
0
Comments
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i think its one of the perks of being a broker being able to get what the man in the street cant. Im sure you can get 90% out of GMAC for a FTB self cert.I like to give people as many choices as possible to do what I want them to. (Milton H Erickson I think)0
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