Hi all,
Me and my partner have been initially quoted by a broker for a 90% LTV mortgage (not yet got an AIP), however we've realised that on a 100k house mortgage we can probably now afford 15% deposit rather than just 10%.
In terms of acceptability and rates, is there a big difference between 90% and 85% LTV? I am on a salary of 21K, partner's income disallowed as it's seasonal work.
One potential restriction is that I'm only 4 months into a new job (3 months probabtionary complete) however I've been in continuous employment for 8 years in the same career.
If necessary we can put 15% down, though we'd liked to have kept a bit aside for updating the house but it's perfectly liveable in at the moment.
What do you reckon in terms of being accepted, and the difference in rates? :)
Me and my partner have been initially quoted by a broker for a 90% LTV mortgage (not yet got an AIP), however we've realised that on a 100k house mortgage we can probably now afford 15% deposit rather than just 10%.
In terms of acceptability and rates, is there a big difference between 90% and 85% LTV? I am on a salary of 21K, partner's income disallowed as it's seasonal work.
One potential restriction is that I'm only 4 months into a new job (3 months probabtionary complete) however I've been in continuous employment for 8 years in the same career.
If necessary we can put 15% down, though we'd liked to have kept a bit aside for updating the house but it's perfectly liveable in at the moment.
What do you reckon in terms of being accepted, and the difference in rates? :)