Other options other than Northern Rock

j3nny17

Hi, I wondered if anyone could help me. I don't have a mortgage at the moment, and not a mortgage promise from Northern Rock either but am concerned. We were looking to take a 95% Together mortgage from NR with a loan covering the deposit on the flat. I wondered if anyone knew of another mortgage lender who offers this type of mortgage? Thanks

homer_j_3

if you are not looking to borrow more than the property is worth, Northern Rock are not going to be competitive under the scenario you have presented.

There are plenty of lenders out there that could help but it is impossible to tell you who as I do not know your circumstances fully. I would seek professional advice from a whole of market broker

j3nny17

Ok, thanks. I'm a first time buyer in Scotland and just wasn't sure how it all works! Basically, i'm not in a position to put down a deposit and need to borrow to cover the value of the property and the deposit. Wasn't sure who to go for but will try and make an appointment with someone

UK007BullDog

Natwest & Royal Bank of Scotland do up to 100% mortgages.

poppy10_2

Abbey have just launched a 125% mortgage.

j3nny17

Thanks for all the help. Problem is that i'd really rather not take a 125% mortgage and preferred the option of a same rate loan tied into the mortgage instead. Don't know if that makes any sense or if its the same difference as a 125% mortgage...as you can probably tell...i'm very new to all this!

poppy10_2

j3nny17 wrote: »

Thanks for all the help. Problem is that i'd really rather not take a 125% mortgage and preferred the option of a same rate loan tied into the mortgage instead.

That's what the Abbey product is - it's a 100% mortgage, plus a £25,000 secured loan.