We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
5% vs 10% deposit
Options
Comments
-
forgive me for being naive here but is it not just a case of applying for a mortgage with a supplier doing a 95%LTV. we havent had an indepth discussion with the bank yet but after a brief one they said 180k should be what we have to play with.
also the intention was to take a mortgage of abou 30 years that way it keeps monthly payments low enough that if for some unfortunate reason we had to live on one wage we could. That would also allow us the oppertunity to build up large amounts of savings and pay it off when we go to renegotiate the mortgage assuming the finincial situation we are in satys as positive as it is now.
Sure you can apply for a 95% LTV mortgage but that doesn't necessarily mean to say that you will get one. That's why it's a good idea to go and see an independent mortgage broker rather than just having a quick chat with whoever it is you bank with so that you know what your affordability (that's what a lender believes is affordable not what you think is affordable) is before you start viewing properties and putting offers in.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards