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No mortgage extension but told to complete asap - Help
Comments
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If and only if somebody is willing to lend him the other 70-75-80%. If they aren't, then he can't buy.GDB2222 said:
On the other hand, the OP has a 20% deposit now. If the market drops, his LTV improves.AdrianC said:
If the market does collapse, then it'll do so because affordability is restricted - which will primarily be due to lenders not lending. So while the property may be cheaper, it may not be possible for the OP to buy.Crashy_Time said:You won`t know the fallout in 12 days that is for sure, withdraw and re-apply in the future, a two bed terrace isn`t exactly going to be hard to find again is it?1 -
Indeed, but if there are no 70% mortgages, then the property market is in deep, deep trouble. Surely, it would be unwise to buy before such a catastrophe?AdrianC said:
If and only if somebody is willing to lend him the other 70-75-80%. If they aren't, then he can't buy.GDB2222 said:
On the other hand, the OP has a 20% deposit now. If the market drops, his LTV improves.AdrianC said:
If the market does collapse, then it'll do so because affordability is restricted - which will primarily be due to lenders not lending. So while the property may be cheaper, it may not be possible for the OP to buy.Crashy_Time said:You won`t know the fallout in 12 days that is for sure, withdraw and re-apply in the future, a two bed terrace isn`t exactly going to be hard to find again is it?
No reliance should be placed on the above! Absolutely none, do you hear?1
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