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Using a loan to pay mortgage deposit
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Leonipower
Posts: 2 Newbie
Hi
My question is we are looking at help to buy. Has anyone used a loan to pay most or all of there deposit or anyone know of any lenders that will accept this as a form of deposit. We recently took out a loan to get married but the landlord where we are renting has just told us he wants the house back and given us 2 months notice so now we are thinking of using the loan for the wedding to a mortgage instead and putting the wedding on hold....any experiences would be appreciated
My question is we are looking at help to buy. Has anyone used a loan to pay most or all of there deposit or anyone know of any lenders that will accept this as a form of deposit. We recently took out a loan to get married but the landlord where we are renting has just told us he wants the house back and given us 2 months notice so now we are thinking of using the loan for the wedding to a mortgage instead and putting the wedding on hold....any experiences would be appreciated
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Comments
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Yes, there are lenders which permit this.
Subject to status and affordability. You need an independent broker to source the right lender options.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Thanks for that. We both have excellent credit ratings and a 50k plus wage between us so fingers crossed it won't be an issue0
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