Mortgage less than 25K

RAFMAC

Does anyone know who offers the smallest mortgage? Nationwide & Santander offer £25K.
Thought I would ask the forum save calling lots of building societies and banks and stuck on hold for ages. Need to get a mortgage to access the LISA would like a £10k but anything under £25k would be good. Thanks for your help

PLRFD

Hi there this is in the wrong section you will get a much better response in the correct one good luck.

p00hsticks

I've asked for this to be moved to the Mortgages board. 
But my understanding is that mortgages (secured against the property) are usually for a minimum of £25k - anything lower would be handled as a straight loan.

Dave_5150

I believe First Direct may offer a £10,000 mortgage 

RAFMAC

thanks for the info and changing to the correct forum board, been helpful will look into thanks

Chemistry777

Perhaps a non-secured loan may give you more flexibility and will be easier to arrange for this amount.   May be worth considering

BikingBud

Chemistry777 said:

Perhaps a non-secured loan may give you more flexibility and will be easier to arrange for this amount.   May be worth considering

But wouldn't that inhibit the LISA bonus claim and perhaps even lead to a penalty payment?

RAFMAC said:

Does anyone know who offers the smallest mortgage? Nationwide & Santander offer £25K.
Thought I would ask the forum save calling lots of building societies and banks and stuck on hold for ages. Need to get a mortgage to access the LISA would like a £10k but anything under £25k would be good. Thanks for your help

https://www.gov.uk/lifetime-isa/withdrawing-money-from-your-lifetime-isa

You’ll pay a withdrawal charge of 25% if you withdraw cash or assets for any other reason (also known as making an unauthorised withdrawal). 

and

You can use your savings to help you buy your first home if all the following apply:

• the property costs £450,000 or less

• you buy the property at least 12 months after you make your first payment into the Lifetime ISA

• you use a conveyancer or solicitor to act for you in the purchase - the ISAprovider will pay the funds directly to them

• you’re buying with a mortgage

Xenon

Chemistry777 said:

Perhaps a non-secured loan may give you more flexibility and will be easier to arrange for this amount.   May be worth considering

I thought that was not possible/advisable to use a loan towards buying a property ?

Stand to be corrected