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Mortgages without HLC?
Jazzking
Posts: 317 Forumite
Evening all,
Myself and my partner are FTBs looking to buy a property for around £90-95k (not as ridiculous as you might think in the North West!) and have found one that has taken our fancy.
We can get a £5k deposit togther between us, so would need a mortgage with of £85k, just less than 95% LTV...
However, having looked into it, most lenders charge what seems to be an extortionate HLC - around £1300 for a decent deal with Alliance & Leicester.
Much as I'd like to save up another £4k, it's taken us long enough to get to £5000 even with the help of our parents and we've got itchy feet and would like to move out of our rented place....
Are there any lenders out there at the moment who *don't* charge a HLC for 90-95% LTV as it just seems to be throwing money down the drain and I'm not sure we'd be able to get a deposit of 9k in order to reduce the LTV to 90%
Looking forward to hering any advice you guys might have
~Alex
Myself and my partner are FTBs looking to buy a property for around £90-95k (not as ridiculous as you might think in the North West!) and have found one that has taken our fancy.
We can get a £5k deposit togther between us, so would need a mortgage with of £85k, just less than 95% LTV...
However, having looked into it, most lenders charge what seems to be an extortionate HLC - around £1300 for a decent deal with Alliance & Leicester.
Much as I'd like to save up another £4k, it's taken us long enough to get to £5000 even with the help of our parents and we've got itchy feet and would like to move out of our rented place....
Are there any lenders out there at the moment who *don't* charge a HLC for 90-95% LTV as it just seems to be throwing money down the drain and I'm not sure we'd be able to get a deposit of 9k in order to reduce the LTV to 90%
Looking forward to hering any advice you guys might have
~Alex
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