Co-ownership stair

blinkmck

No, you don't need a deposit as existing customer. That is for first time buyers.

The paperwork that the ulsterbank mortgage advisor showed me that they would be willing to borrow up to 90% of the current value. It even showed a staircasing example of where someone could borrow up to 90% LTV but their equity ownership was actually less due to falling house prices, as has been the case over the last few years.

I'm looking to time it right where, I can borrow more to buy more equity, so i'm not in negative equity, and actually in postive equity without having to much more per month.

Just wondering if anyone else has been through this process, or had experience of this, as must of the posts on this seems to be on the English Shared ownership which works slightly differently?

saverbuyer

blinkmck wrote: »

No, you don't need a deposit as existing customer. That is for first time buyers.

The paperwork that the ulsterbank mortgage advisor showed me that they would be willing to borrow up to 90% of the current value. It even showed a staircasing example of where someone could borrow up to 90% LTV but their equity ownership was actually less due to falling house prices, as has been the case over the last few years.

I'm looking to time it right where, I can borrow more to buy more equity, so i'm not in negative equity, and actually in postive equity without having to much more per month.

Just wondering if anyone else has been through this process, or had experience of this, as must of the posts on this seems to be on the English Shared ownership which works slightly differently?

Post in the NI forum. There are a few co-ownership buyers there.