We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Mortgage advice
Comments
-
It might be a good idea for you to do a bit of reading about the house buying process. But to answer your question, no. You cannot borrow £99k on a £100k house just because you have £11k for a deposit. When you buy a house the mortgage company will do a survey to see if the house is worth what you have offered. This survey value is used to calculate the loan to value ratio. So if the house is worth £100k then the maximum you would be able to borrow for this property would be £95k (if you have good credit rating).Borrowing will also be dependant on your income, any debt you have and your credit rating.0
-
everyone would be getting a mortgage even those that could not afford it if that was allowed. That was what contributed to the subprime mortgage crisis in 2007.BellA said:Can you get more on your mortgage than the price of a property? Say you are paying £230k for a house could you get a £235k mortgage?
Max in 2021 will be 95% LTV
1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.8K Banking & Borrowing
- 254.6K Reduce Debt & Boost Income
- 455.6K Spending & Discounts
- 247.7K Work, Benefits & Business
- 604.6K Mortgages, Homes & Bills
- 178.7K Life & Family
- 262.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards