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Moving their criteria
hungary97_2
Posts: 92 Forumite
Basically put flat on market 28th march and went to see friendly lady at HSBC (whom i cutrrentyl have my mrotgage with) Based on my salary she said they would be willing to lend 158K however they would probably go up as far as 165K on an 95% mortgage
I have now found a place i like on market for £169950. Think i could get it for 165K but after checking their online calculator today shows that they have ceased doing 95%mortgage and most they do now is 90%. Unfortunately i will only have approx 13000 eqity once i sell my flat and that aint 10% of 165K. Is there any chance of them being lenient.
I currentyl have a mortgage with them and with my loan (whihc i am paying off with some of the equity) i will be £150 a month better off with this more expensive property!!
P.s cant go anywhere else as i have shocking credit hiostory
I have now found a place i like on market for £169950. Think i could get it for 165K but after checking their online calculator today shows that they have ceased doing 95%mortgage and most they do now is 90%. Unfortunately i will only have approx 13000 eqity once i sell my flat and that aint 10% of 165K. Is there any chance of them being lenient.
I currentyl have a mortgage with them and with my loan (whihc i am paying off with some of the equity) i will be £150 a month better off with this more expensive property!!
P.s cant go anywhere else as i have shocking credit hiostory
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Comments
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any ideas anyone0
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Hello, Have you asked them for the extra?
Sometimes the underwriters will bend.
Luv
LipstickI 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 -
any ideas anyone0
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You could consider applying for a loan simultaniously for the difference.
That way the loan would not how up before the mortgage completes.
JoeK
P.s. Are you a Magyar?I am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0 -
no irish in origin.
The loan idea is what i originally had when i bought the place i am in now.0
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