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NRAM interest only 12 years
Trafford321
Posts: 21 Forumite
Hi looking for some advice.
We have been with NRAM for over ten years. We are part of the bad mortgages stuck on interest only.
We have had our house valued and thankfully it is now worth more than we paid. We have no equity in the home, other than what the increase in value would give us if we sell. We both work but have no savings. All Bill's are up to date.
Are we likely to get another mortgage with a deposit as small as £8000?
Thanks for your time
We have been with NRAM for over ten years. We are part of the bad mortgages stuck on interest only.
We have had our house valued and thankfully it is now worth more than we paid. We have no equity in the home, other than what the increase in value would give us if we sell. We both work but have no savings. All Bill's are up to date.
Are we likely to get another mortgage with a deposit as small as £8000?
Thanks for your time
0
Comments
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Trafford321 wrote: »Are we likely to get another mortgage with a deposit as small as £8000?
what % of the property value is £8k?
On a £40k property that would make 80% LTV...should be fine
on a £200k property that would make 96% LTV...probably not fine0
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