r/Glasgow Tools

Title
Author	JagsFraz71
Comment	So say Flat is worth 160k home report.. you apply for a 5% mortgage so you give the bank your deposit of 8k and get a mortgage of 152k. If you want to offer 170k you’d need another 10k on top of your deposit because the bank wont lend more than the HR value.
Reddit Link	https://www.reddit.com/r/glasgow/comments/u2vku9/mortgage_in_principle/i4lbjn3/
Created	Wed 13th Apr 2022 6:37pm
Status	normal ()

So say Flat is worth 160k home report.. you apply for a 5% mortgage so you give the bank your deposit of 8k and get a mortgage of 152k.

If you want to offer 170k you’d need another 10k on top of your deposit because the bank wont lend more than the HR value.