joint income £94000. Property value £225000. Is it possible to borrow deposit, £25-30,000 and have mortgage of £190, 000.
| Related: | Personal Finance•Financial Planning•Budgeting |
Is this an acceptable arrangement and are lenders willing to do this
Answers (1)
No as you are effectively borrowing 100% and mortgage lenders aren't accepting that level of debt any more. I would have thought that with an income that high you ought to be able to save for a deposit. Then you will be able to manage the mortgage repayments properly.
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