Can I include Stamp Duty in mortgage

kingstreet

Hoggy1983x wrote: »

To clarify further...it's a new build flat whereby I cannot go lower than 85% LTV. It is £365k. With SD it's £373.25k. My question is can I possibly proceed with a deposit of 15% of £373.25k? (£56k).

I've looked at the money saving site stamp duty section which states people do this at times. I was hoping to see if anyone has done this and which lenders?

I appreciate all answers so far so thanks

You borrow based on the lower of purchase price or valuation. You can't inflate the price by adding SDLT.

kingstreet

Hoggy1983x wrote: »

To clarify further...it's a new build flat whereby I cannot go lower than 85% LTV

You can.

There are two lenders which lend on HTB Mortgage Guarantee on newbuild flats, upto 95%.

Hoggy1983x

Appreciate the info all. I think I may be snookered then and won't proceed. Will get final confirmation from HSBC

Hoggy1983x

Thanks but I have specific property in mind that isn't under HTB. Although I'd be really interested in the lenders names to evaluate if they look at 90% LTV on new build flats

theGrinch

this is the money the government shake you down for and as there is no intrinsic retained value lenders will not lend on it.

kingstreet

Hoggy1983x wrote: »

Thanks but I have specific property in mind that isn't under HTB. Although I'd be really interested in the lenders names to evaluate if they look at 90% LTV on new build flats

You mean it isn't under HTB Equity Loan as the builder isn't registered?

I'm talking about HTB Mortgage Guarantee, as I said. It's a mortgage upto 95%, no loan. It requires nothing from the builder, no forms, no registration, nothing.

Two lenders (I am not prepared to name, research yourself or consult an independent broker) will lend upto 95% on newbuild flats.

I'm a newbuild mortgage specialist, I do this stuff all day every day.

Depending on builder size, I can think of one lender which might offer 90% on a newbuild flat outside the HTB MG scheme. For a smaller builder, none.