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Q: Do any lenders accept vendor gifted deposits?
A: Yes some lenders will accept a vendor gifted deposit or other cash incentive provided this does not exceed the maximum of 5% of the purchase price.
Archive for ‘Ask An Expert’:
Ask An Expert: Do any lenders accept vendor gifted deposits?
Friday, August 13th, 2010
Ask An Expert: I plan to work past retirement, what are my chances of getting a mortgage?
Friday, August 13th, 2010Q: I am looking to sell my property and move to property close by . I will have £25,000 from my sale and would be looking for a mortgage around £200,000 on my yearly income of £56,000- £58,00 . I am 47 years of age and intend to work past retirement . What would be my chances ?
A: From the information you provided I certainly think it is possible for you to get a mortgage.
Ask An Expert: A business partner of mine lives and owns companies abroad, can he arrange a mortgage in the UK to purchase a property here?
Wednesday, July 28th, 2010Q: A Turkish business partner of mine wants to buy a house in the UK. Mr X, my business partner, has several companies in Turkey and elsewhere. Will he be able to get a mortgage in the UK? What proof of income etc will he need to give?”
Ask An Expert: I have a 10% deposit to put down but require a large mortgage, what are my chances?
Tuesday, June 8th, 2010Q: I have a 10% deposit to put down but require a large mortgage of £990,000.00. What are my chances of getting a mortgage?
A: In the current post credit crunch mortgage market, it is difficult to obtain a 90% loan-to-value mortgage for a loan size of over £ 500,000 through high street lenders.
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Ask An Expert: My tracker mortgage finishes at the end of July, should I apply for a fixed rate or lifetime tracker?
Tuesday, June 8th, 2010Q: My tracker mortgage finishes at the end of July. Should we take a fixed higher rate motgage over 2 or 3 years. Or a lifetime tracker at bank of engalnd rate plus 1.99% at no early repayment fee and only £140 exit fee. No application fee.
When rates go up are they going to go up quickly, or gradually. As an expert what would you do please?