10% deposit on new build

rndb · 30 March 2011 at 7:40AM

Hi there?
Does anyone know if you can get a mortgage on a new build house with 10% deposit in the current market?
Nationwide do providing you switch your current account to their flexaccount - someone told me that santander do but when I phoned them they said maximum ltv on new build house was 80%.
Not first time buyer and will have at least 5% deposit paid by builder which I guess is the other issue
thanks in advance

Crashandburn · 30 March 2011 at 7:52AM

Existing 'borrowers' with NW is 90% so not too sure where they are coming from.

Nottingham say they do it up to the products LTV limit ie they have a 90% deal. Worth giving them a shout

rndb · 30 March 2011 at 7:59AM

I was unsure about NW too since there website does say exisiting borrowers only as you correctly say but if you phone them they tell you differently ie you can get 90% on new build provided your main bank account is flex account (and they've been phoned twice and two different people have said same thing!)

will try Nottingham as well- thanks

BadgerFace_2 · 30 March 2011 at 11:06AM

Santnader is 90%, including 5% builder gifted, for new builds if you are FTB.

10% deposit on new build

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