lend a hand

flybynight

mostly just here to vent
I went to see Lloyds about their local lend a hand mortgage and they gave me a mortgage promise / agreement in principle for way more than we needed.
perfect
found a flat we really liked and put an offer in and had it accepted. should have realised at this point it was all too good to be true. went back to Lloyds who said " local authority are out of money" we cant dot he actual application" . they have since negotiated that the council are going to give them another lot of funding, however since getting the council to say yes, there is apparently nothing else they can do to speed the process up and we are just waiting on the council to put it in place.
I am now searching for another 5% deposit mortgage ( most of which are nowhere near the interest rate Lloyds was) and hoping Lloyds sort their life out. I am keeping the seller in the loop, but its really frustrating. don't suppose anybody else has been in a similar situation and hs some advice / a magic wand?

ACG

Do you have family with money in a savings account?
You could look at the barclays springboard mortgage, alternatively go and see a broker. Should be possible to get you a mortgage, but it isnt the easiest at 95%.

flybynight

nope, everbody keeps suggesting that, it does seem that if you have no family to assist you are a bit !!!!ed. we saw a guy yesterday who said we should " just get another 5% deposit" if I find where he keeps his money tree we are sorted. lol

ACG

There are other options available even without a bigger deposit, but i would speak to a broker there are one or 2 ways i think you could get your mortgage - but thats purely based on what you have posted here, in reality that coudl be different.

If you speak to a broker they can do a full factfind, get your credit reports and more background information and make an informed decision.

flybynight

yep, I reckon that is the way to go.