Hey morning. My girlfried and me earlier this week went to arrange our mortage on her parents house where we all live.
The purchase price agreed with parents is £150k on a value of around £200k. On top we added £12k deposit from our savings. Santander originally agreed to offer at 25% loan to value but now say no because its under value and we arnt married.
So who might lend where its part gift from parents as a discount and part cash deposit? We are FTB, both working, with decent credit history.
Questions And Answers
Santander changes mind
asked by
Jay Goyandka
posted 11 Months ago at 9:16
1-1 of 1 Answers
Quentin Cooke answered 11 Months ago at 11:49
Seems odd, but often Santander doesnt make sense.Might be worth re-checking with them, but go and see an adviser or mortgage broker..
I guess parents gift needs to be clearly identified as a true gift so its not seen as a soft loan by a lender.
About Q&A
Get your questions answered by a unique network of professionals and fellow consumers for free. Share your knowledge and experiences by answering other consumer questions from the Total Investor community.Q&A Categories
- All
- General Topics
- Investment
- Protection
- Finance & Mortgage
- Pension
- Wealth Management
- Retirement Planning & Annuities
- Offshore, International & Expat
- Estate Planning
- Group & Corporate Business
- Campaign Board
- Lifestyle & Planning
- Legal Matters
- Tax & Accounting Matters
- Property Matters
- General Insurance
