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First time buyer - second mortgage application advice

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Dear all,

I’am a first time buyer and I have recently applied formortgage with Britannia for 90%LTV. The house I’m buying is 2008 built andstill got 6 yrs of builders warranty left with it. I do have a good creditrating so my mortgage application when through well. Britannia did value theproperty for my asking price in their valuation, bur refuse to lend me 90% LTVmortgage. Instead they have offered me 75% LTV mortgage.

The reason for the LTV downgrade was due to some comments bythe valuer, the comments were,

01. Respectivehouse is near to a rail way line (170m away)

02. Thereare some new housing developments currently under construction on site

Because of above 01 & 02, thelender will not be able to offer the 90% LTV mortgage, But they are will tooffer 75% LTV.

I do not have a 25% deposit and I’m now going ahead withanother high street lender (90%LTV). Do I have to disclose to the new lenderthat I have gone through a mortgage application with Britannia??

Are they going to find this out during my credit check?? Andis it going to adversely affect my mortgage application.



Thanks a lot for your kind support??





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