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Help with a mortgage situation
Comments
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getmore4less wrote: »I think the place is £250k
£20k deposit
£130k mortgage
£100k from bank of M&(or)D.
That's how I read it.
Doh >.< thanksKnow what you don't0 -
Thanks, that’s the situation. There must be a product out there that can accommodate this.?
Any help old be greatly received0 -
Sapphire2121 wrote: »Thanks, that’s the situation. There must be a product out there that can accommodate this.?
Any help old be greatly received
You don't need a product just the right lender. I have done this with my daughter we went halves on her house, so her deposit and mortgage = my cash. I do not own the house jointly with here, it's hers, I however have a second charge against the house. Not all lenders are OK with this situation but Santander were* (original mortgage) and Nationwide are (remortgage)
A nice side effect of this was, best LTV so lower mortgage rate.
* and may still be, she only moved lender for a better rate when the original fixed period ended.0
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