95% Mortgage Advice

MissLaura

Hi All,

Hope you're having a good evening.

I'm after some advice. My partner and I are FTB's looking for a 95% mortgage, either with or without the government scheme.

A broker I have spoken to has recommended going without the government scheme due to them having a much stricter underwriting process and it takes longer.

Due to an issue with the Nationwide this week (full application processed with the HTB 20% equity loan mortgage on a non-new build property, then when I called to query it after reading online it was only for new builds; they apologised, refunded our fees and we are now left with no wheels in motion) we really do need this to go through as quickly as possible to secure the house we love that we've actually had an offer accepted on.

Can anyone recommend any lenders who offer 95% mortgages and aren't totally up to their eyeballs in mortgage applications so we don't suffer long delays?

Thanks in advance for any advice, we're new to this whole process so we really appreciate it. :T

ACG

HTB (as in the 95% mortgage, not the EL scheme which I have no knowledge of) does not take any longer - you have to sign a declaration form and thats it.

Your broker should be able to point you in the direction of lenders who are not behind on underwriting. In fairness though I think 90% of lenders are taking a week or more to look at paperwork.

Dondaddyd

I don't want to be the bearer of bad new but the

Nationwide Save to Buy scheme isn't with the Government I believe and isn't the Government new build equity scheme. I am surprised they didn't move you to that.

That is the only 95% mortgage that isn't part of the help to buy scheme that I personally am aware of.

Can't help with lenders without a backlog, everyone appears to be in the same boat.

Mortgage_Mark_2

The most prominent Help to Buy mortgage lender are also amongst the quickest in the market for mortgage processing timescales.

Speak to a recommended broker and let them deal with it for you, they will be able to chase through and ensure that it's high priority by liaising with their BDM etc.