Do banks really lend 90% mortgages?

Quesarahsarah

My husband and I have an £8000 deposit. We are looking at buying a house for around £80000. We have looked on all the mortgage calculators online which all offer a 90% mortgage but in reality, how likely is it that we will be accepted fpr this? My husband has a very good credit history. Mine is ok but i have had a satisfied ccj for 4 years now.

Are we best applying in just my husbands name, will he be accepted on his own? The online clculators offer to lend him enough on his own income anyway but I have read alot of people are turned down with a 10% deposit.

His credit rating is good, he is on the electoral roll at this address and our previous address. He has been in employment for the same company for 4 years.

Dave_Ham

Many banks are lending at 90%, some even 95% loan to value however almost certainly they will not with a CCJ on file.

Some banks are happy with only 1 person on mortgage, others are not so happy and score as a couple. Additionally if the deposit is shared, this will be biggest hurdle to overcome but again not necessarily a dealbreaker.

All the best

Conrad

All the best 90% deals in terms of both rates and fees, are direct to lender only.

Simply call a few and ask about criteria (don't do an actual application until you've picked best deal).

Plenty of couples apply in one name only. Clearly use your common sense and don't go saying it's because one of you has a ccj. As the person with the ccj is not party to anything, it is no business of the lenders. For all they know your'e other halve is strictly Islamic and so does not believe in paying interest........

Simply tell Solicitor and lender the deposit is the sole property of the applicant - you'll have to sign a waiver anyway that states the other party has no rights. Having said this, often the other party is simply never an issue and never disucssed anyway - it's just a case of an individual applying for a mortgage, afterall, a single person can move into a home 1 day, and meet a new partner the next and he moves in the week after - these things are perfectly ok!

I'm here to save you money, not to recite FSA tick box rules (not aimed at you Dave btw).
REMEMBER THIS IS A MONEY SAVING SITE, not a broker lead generation site folks.