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First time buyer,10% deposit, which bank? URGENT!

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Comments

  • saverbuyer
    saverbuyer Posts: 2,556 Forumite
    erincc wrote: »
    :money:

    Danske only require a PV if the LTV is more than 75 %. Hth.

    All Danske FTB mortgages require a basic valuation.
  • tara747
    tara747 Posts: 10,238 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    erincc wrote: »
    Yes I know the lender, however your sarcastic know it all attitude has made me not want to bother telling you. It's quite obvious that you think you know more than me so we'll leave it there.

    Thanks.



    ???


    Parisien is the OP, how do you know the lender? Unless... are you the borrower?


    erincc wrote: »
    :money:

    Danske only require a PV if the LTV is more than 75 %. Hth.


    But how will they know the LTV if they don't know the value???
    Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs 2/6/17 126lbs
    Save £180,000 by 31 Dec 2020! 2011: £54,342 * 2012: £62,200 * 2013: £74,127 * 2014: £84,839 * 2015: £95,207 * 2016: £109,122 * 2017: £121,733 * 2018: £136,565 * 2019: £161,957 * 2020: £197,685
    eBay sales - £4,559.89 Cashback - £2,309.73
  • Heisenbug
    Heisenbug Posts: 35 Forumite
    They're probably looking it up in whatever database they use, last time I was looking at mortgages at Danske they searched for my house and brought up a value which will give them a reference point for LTV. I can only assume that any lender not doing a proper valuation is using house price statistics instead which isn't that far off what a lazy valuer will do.
  • duggan1
    duggan1 Posts: 508 Forumite
    Part of the Furniture 100 Posts
    Heisenbug wrote: »
    They're probably looking it up in whatever database they use, last time I was looking at mortgages at Danske they searched for my house and brought up a value which will give them a reference point for LTV. I can only assume that any lender not doing a proper valuation is using house price statistics instead which isn't that far off what a lazy valuer will do.

    Danske have a valuation calculator on their intermediary site which does a basic calculation based on the postcode and LPSNI capital valuation. Might give you a rough idea.
  • erincc
    erincc Posts: 62 Forumite
    tara747 wrote: »
    ???


    Parisien is the OP, how do you know the lender? Unless... are you the borrower?






    But how will they know the LTV if they don't know the value???


    A property valuation tool is used to get an estimate combined with the LPS website.
  • tara747
    tara747 Posts: 10,238 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Erm, and what if it's got serious structural problems?


    A 10% deposit doesn't give the bank much protection.
    Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs 2/6/17 126lbs
    Save £180,000 by 31 Dec 2020! 2011: £54,342 * 2012: £62,200 * 2013: £74,127 * 2014: £84,839 * 2015: £95,207 * 2016: £109,122 * 2017: £121,733 * 2018: £136,565 * 2019: £161,957 * 2020: £197,685
    eBay sales - £4,559.89 Cashback - £2,309.73
  • qwert_yuiop
    qwert_yuiop Posts: 3,617 Forumite
    Part of the Furniture 1,000 Posts
    Google street view
    “What means that trump?” Timon of Athens by William Shakespeare
  • Parisien
    Parisien Posts: 930 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    Completed on house today, all good eventually!


    P
  • tara747
    tara747 Posts: 10,238 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Glad to hear it, congratulations!
    Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs 2/6/17 126lbs
    Save £180,000 by 31 Dec 2020! 2011: £54,342 * 2012: £62,200 * 2013: £74,127 * 2014: £84,839 * 2015: £95,207 * 2016: £109,122 * 2017: £121,733 * 2018: £136,565 * 2019: £161,957 * 2020: £197,685
    eBay sales - £4,559.89 Cashback - £2,309.73
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