Struggling for 90% mortgage

haras_n0sirrah

90% is very restricted at the moment. There are lenders doing it but hsbc is the cheapest and the strictest so the pdl's was likely a deal breaker. There are lenders doing 90% who are a bit less strict but the rates are a bit higher than hsbc.

Toni.mc94

haras_n0sirrah said:

90% is very restricted at the moment. There are lenders doing it but hsbc is the cheapest and the strictest so the pdl's was likely a deal breaker. There are lenders doing 90% who are a bit less strict but the rates are a bit higher than hsbc.

Thank you, I was told PDLs being so long ago wouldn’t be an issue but obviously because of covid things have tightened  

haras_n0sirrah

HSBC has always been strict. Being one of the only lenders doing 90% means they can be picky as they like as they have a literal queue of people 

BekahLeaDee

Have recently put an offer in on a new property which was accepted and then the mortgage process was a nightmare!  We are 90% ltv and were unable to port our current mortgage. Used a broker who recommended HSBC but after 10 days of trying to put forward an application and not succeeding she recommended Metro Banking. Have cost us more but for the security of having a mortgage in place it was worth it! Try another broker, there are more options out there. 

Toni.mc94

Thanks all. Think we are going to cancel HSBC mortgage appointment we had direct and go with Halifax for 15% deposit and take the extra money from the savings we had set aside for renovations and have to live in the house and renovate as we go ! 

katiescotland88

BekahLeaDee said:

Have recently put an offer in on a new property which was accepted and then the mortgage process was a nightmare!  We are 90% ltv and were unable to port our current mortgage. Used a broker who recommended HSBC but after 10 days of trying to put forward an application and not succeeding she recommended Metro Banking. Have cost us more but for the security of having a mortgage in place it was worth it! Try another broker, there are more options out there. 

I'm curious how you got on with metro banking? We considered going with them and might still apply. How long did the process work?