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Lender deposit requirements vs Housing Associations requirement - Shared Ownership
asm89
Posts: 136 Forumite
Hello
Despite lots of research into mortgages and the SO process... I still can't figure this out.
For example if the HA wants a 10% deposit for your share, however you are able to get a 95% LTV mortgage, so the lender only needs you to put down 5%... can you pay the HA your 5% deposit on exchange and then fund the remainder of the deposit at completion from your mortgage money?
This may be a silly question so I apologise but in theory if the HA is happy with a 5% deposit at exchange... Does it matter to them who funds the remainder?
Despite lots of research into mortgages and the SO process... I still can't figure this out.
For example if the HA wants a 10% deposit for your share, however you are able to get a 95% LTV mortgage, so the lender only needs you to put down 5%... can you pay the HA your 5% deposit on exchange and then fund the remainder of the deposit at completion from your mortgage money?
This may be a silly question so I apologise but in theory if the HA is happy with a 5% deposit at exchange... Does it matter to them who funds the remainder?
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