Are there any 95% mortgages? Up to £150000 house

Alphamare

eBay happens to the value of a mortage if the property is listed as £150000 but you make an offer and its accepted?

What about that government scheme for non new builds? I think it's a new one. Any thoughts?

Any help appreciated as would be first mortgage and first house

kingstreet

eBay happens?

Alphamare

That should be what happens

kingstreet

Ah, right.

Nothing happens to the mortgage, as you don't apply for it until you have agreed the purchase price with the vendor.

Then you submit a mortgage application for a mortgage for 95% of the agreed purchase price. If the lender's surveyor agrees with the purchase price, your mortgage offer will be for 95% of that figure, if he feels it's worth less, you'll be offered 95% of the surveyor's value.

There's Help To Buy - Mortgage Guarantee and there are other 95% mortgage products. Do you have any specific questions about them, as my thoughts are wide and varied and of, in places, negligible interest or benefit to the average MSE reader...

Alphamare

Kingstreet your thoughts are of value to me and its my thread so any information you can share is appreciated as we currently know nothing about nothing. I am just starting to try and find things out but it's a total maze out there. Any thoughts you can give are completely appreciated :-)

kingstreet

I suggest you speak to an experienced whole market broker and get some perspective on your situation and the current mortgage market, as it would impact you directly.

Before you start, ensure you are on the electoral roll and obtain all three versions of your credit file, to ensure there are no issues requiring action;-

Equifax

https://www.econsumer.equifax.co.uk/consumer/uk/order.ehtml?prod_cd=UKSCR

Experian

http://www.experian.co.uk/consumer/statutory-report.html#orderReport

CallCredit

https://www.callcredit.co.uk/stat-report-online/index.php?action=basket_add&tpl=setRegister&package=63&amount=1&mode=clear

Alphamare

What are people's thoughts on the nationwide 95% saver

SG27

Alphamare wrote: »

eBay happens to the value of a mortage if the property is listed as £150000 but you make an offer and its accepted?

What about that government scheme for non new builds? I think it's a new one. Any thoughts?

Any help appreciated as would be first mortgage and first house

iPhones, making the literate, illiterate...

Alphamare

So true! I am really tired of my iPhones shirt