Halifax 5% Deposit mortgage

TravelBugHappy

Hi quick question on behalf of a friend.

She applied for a DIP with the halifax (online) and was given an offer for double the amount she needs. However the DIP states deposit required 10%.

Does this mean she is unable to obtain a 5% deposit mortgage with the halifax or does she just need to apply through a help to buy broker/specialist?

Any help much appreciated

Immers7

Unsure how a broker would get a different result with the same details of earnings and the same mortgage provider.

Another mortgage provider maybe but not the same one.

TravelBugHappy

Thanks for your reply.

Halifax only offer 95% mortgage under the help to buy scheme so I presumed she may have had to go through a help to buy mortgage broker? rather then apply the normal way. She will call them tomorrow but I wondered whether any brokers knew if this was correct or not?

Or whether anybody had automatically been offered a 95% mortgage with halifax at DIP stage?

TravelBugHappy

.... I may be well of the mark here (obvs)

AndyAtu

I got the same, spoke with Halifax on the phone, they said it may be OK and that they may still offer it to me with 5% deposit but that I should go in the branch to speak to their MA. Did that but was offered the same as per DIP, only 90% ltv.

Speak to an IFA. They won't get her different results from Halifax but they'll be able to advise on a lender who can offer what your friend is looking for.

TravelBugHappy

Thanks AndyAtu for sharing... seems that not many others have this problem so ill update the thread when I hear from her

Glowstar_2

I got a mortgage with Tesco Bank which is 5% deposit and not HTB.

TravelBugHappy

Hi just spoke to my friend - Halifax said that they wouldn't offer 5% deposit mortgage at AIP stage as she applied online. They will only offer this at full application along with a successful help to buy application