New Build Mortgage 10% deposit?

toughgreenmonkies

Considering a New Build but with a little googling I am reading that the majority of lenders only offer 15% LTV and what I have is more like 12%.

Are there any lenders out there offering a 10% mortgage on New Build properties? I was made aware of one by a broker but they wouldn’t tell me the name. He did say however that the rate was around 3.49% which seems very high.

Any advice appreciated, otherwise I’ll hold off and go for a non new build with my 10%

K_S

@toughgreenmonkies Probably referring to Barclays.

FWIW, 3.49% is not very high for 90% LTV products at the moment, though to do an accurate like-for-like comparison you need to take into account fees as well.

toughgreenmonkies

I should mention, I’m not eligible for help to buy or any of those schemes. It would be the sale of my existing property which gives me the deposit/equity for my 12%

K_S

toughgreenmonkies said:

It would be the sale of my existing property which gives me the deposit/equity for my 12%

@toughgreenmonkies Assuming it's one single transaction (simultaneous sale and purchase), that shouldn't make any difference.

[Deleted User]

Barclays have been the go to lender for these for the last couple of months.  I *think* metro also do them and Nottingham too.   But rates are all going to be roughly around 3.5% or maybe a bit lower if there is a fee involved.