Are there any mortgage advisors out there? Very quick question...

[Cherylina]

As you know, 90% and 95% mortgages have been removed from the market

I wondered if I could pick your brains and ask if you think there is any chance that they will be returning this side of Christmas?

If not, when do you think they might return?

Thank you in advance!

Maybe post on money saving expert - they have lots of brokers in the mortgage section of the forum.

HSBC is doing 90% at the minute. However it is a painful lottery if you get the rates at 7:59 am.

You could go direct, 4 week wait for an appointment though

Second point - some other players need to come to the market as HSBC is getting hammered

@fromdownwest

HSBC is doing 90% at the minute. However it is a painful lottery if you get the rates at 7:59 am.

You could go direct, 4 week wait for an appointment though

What do you mean about an 8am lottery? On the phone lines?

There's lots of demand for the HSBC product so it's likely to run out quickly. I think Nationwide are also offering - the criteria for both products will probably be tight - excellent credit records, cast iron jobs etc

I see, thanks @Lightsabre. We both have cast iron jobs but while my credit rating is excellent, DH’s isn’t so much. However, it would be fine if I was the sole applicant (and therefore needed to be the sole owner) if it came to that.

Try Yorkshire Bank they had 90% a couple of weeks ago , it might still be available

Have you tried an actual mortgage broker? I used one earlier this year and got just the right deal for me

We spoke to a mortgage advisor (after using moneysavingexpert forum) and she seemed to think that the 90% would be back very soon (think we spoke 2 weeks ago) and this was a "few weeks soon".

Have you contacted Bank of Ireland, as they are still offering 90% mortgages?

@jennymac31 - are they?

I thought it was only Nationwide and HSBC.

Getting either is proving a problem.

HSBC allocate a certain amount of funds each day, all brokers log on at 07:55 to obtain a quote and get the product, by 08:01 all the funds have been allocated!

Hence the lottery, and it is pure luck if your broker can obtain a rate for you. Rates are incredible, but process sucks.

OP - Yes I believe Bank of Ireland still are but there's no harm given them a call to see if they can offer a mortgage.