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Mortgages

 
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admin
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Joined: 30 Sep 2009
Posts: 24



PostPosted: Wed Sep 30, 2009 6:55 am    Post subject: Mortgages  Reply with quote

I may have misread this somewhere but Im sure in some information feed ive seen our 70% no personal recourse mortgage has changed to 60%.....

This may just be applicable to new purchasers but Id like to hear other thoughts on this.
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rael



Joined: 30 Sep 2009
Posts: 2


Location: London

PostPosted: Wed Sep 30, 2009 7:32 am    Post subject: Reply with quote

Correct, the more recent purchasers have to stump up 40%, our 30% down contract (or more important 70% mortgage) stilll apply.

rael
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admin
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PostPosted: Wed Sep 30, 2009 11:04 am    Post subject: Reply with quote

Thanks Raul
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Maypole



Joined: 01 Oct 2009
Posts: 2


Location: UK

PostPosted: Thu Oct 01, 2009 1:18 pm    Post subject: Reply with quote

I think Rael is right as far as deposits are concerned but I understand that we will be offered a max 60% mortgage upon completion - due to banks tightening up their offerings.

If true, this will mean that we will all have to stump up 40% (less what we've paid) on completion, regardless of when we signed-up.

Does anyone know for sure as this will have a big impact on our personal funding? Perhaps the developer has already secured mortgage agreements for us, but I doubt it.

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