Posted on 4 November 2013 by Leon
Hello, I'm wondering if a 95% LTV mortgage in the £750k-1m range would be available in the current market? My wife and I have a combined salary of approx. £160k, plus bonuses in the 60-80% range. We would be first time buyers with a fairly small deposit, but would be able to pay down the mortgage to below 75% LTV fairly quickly. Thank you.
In answer to your query, there are very few lenders who will look at 95% LTV over £500,000. One issue that they tend to have is a concern over why someone who has the income to support a loan of this size, hasn't been able to provide a larger deposit. For this reason, the lenders who look at your type of enquiry, tend to consider 95% above £500,000 on a case by case basis.
It would most definitely be of interest to a lender and a plus point, that you would be able to pay down the loan to 75% quickly and may help them to structure a deal accordingly.
If you'd like to explore your options in more detail, then please let me know, and I'll arrange for one of our consultants to contact you.
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