Quick query .....

Laura84 · 17 August 2015 at 10:29AM

Does it matter to the estate agent what your LTV is?

I ask because our broker recommended that the mortgage is put in my partners name only (due to my credit history). However, when we intially enquired about the property we said we had 10% deposit. Now it's just in my partners name then really he only has 5% (his savings) as the other 5% was coming from my parents. As I understand it, they can't gift him money?!

Anyway, he has an immaculate credit history and as got the AIP for a 95% mortgage. Will the estate agents be able to refuse his offer on the house now his deposit is less?

Hope that makes sense!

ACG · 17 August 2015 at 10:41AM

They wont know if you do not tell them.

Laura84 · 17 August 2015 at 10:42AM

Thanks for your reply ACG - They have asked for proof of the deposit though?

ACG · 17 August 2015 at 10:49AM

Show them what they want to see, it does not mean you have to do it that way and they will never know as Estate agents do very little once the offer has been accepted.

lee111s · 17 August 2015 at 10:55AM

Or you can simply tell them that your solicitor can confirm that you have the funds available to follow through with the sale.

dustywarrior · 17 August 2015 at 12:34PM

It's in their best interests to sell the property so it's unlikely they will have an issue, especially if the offer has already been accepted by the seller.