FTB: Just had my offer accepted! AIP higher than sites?

Kwisatz

Hi all,

First time poster long time lurker and finally in need of some MSE sage like advice. Here goes!

1) I saw the house that I wanted for £170k and approached L&C for a AIP for it and they gave me one for £150k-£153k which is fine as I have an up to £20k deposit (want to use just enough for a 90% LTV so I can use it on the house). Anyway, the "How much can I earn calculators" on all the websites I've visited are giving me a lower value than my LTV by ~£6-9k...I haven't applied officially yet but is it likely I'll get the £150-153 mortgage as that's what's on my AIP rather than a bank's site calculation?

2) In your opinion should I go through a fee-free broker like L&C or just go direct?

Thanks!!

betmunch

You should read this thread before instructing L&C

https://forums.moneysavingexpert.com/discussion/5209521

You should be very confident you know what you are doing before applying direct

I would suggest a local broker you can have a face to face meeting with is best

Kwisatz

Ahhhh I wasn't sure if she was talking about L&C or someone else. Thanks for clarifying!

Contemptuous

Lender's calculators available to the public on their websites are only ever going to give an indication of the level of borrowing available. The AIP will be more accurate.