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LTV on new builds
Lu_Lu
Posts: 228 Forumite
is it true that lenders will only go to 80% LTV on a new build property?
Been looking at a few lenders websites and this seems quite common which is a bit of a worry. We might be around 82%.
Been looking at a few lenders websites and this seems quite common which is a bit of a worry. We might be around 82%.
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Comments
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Nationwide
Leeds BS
Tesco
Santander
Woolwhich
when i was shopping around for a newbuild mortgage all the above go to 85%
Skipton go to 90%0 -
Is it a flat or a house you are looking to buy?
LTV restrictions are different depending on flat or a house.0 -
sorry, it's a house.0
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Lots of lenders will go to 85% about 4 can go to 90%.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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85 house, 80 if flatDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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You're not necessarily limited to 80% LTV with flats on new build depending on the builder. You could also use Help to Buy to work round the LTV cap.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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