damien60 said:Hi, can someone please help. We have been approved for 100% mortgage of €330k we are bidding for a house for €350. When it is time to pay the 10% deposit can we use some of the 100% mortgage or do we have to pay this all ourselves! Thanks guys
Petal said:You should check with your lender. They won't release it from the mortgage, you have to apply for a term-loan, which will be cleared from the mortgage.
damien60 said:Sorry for not giving more info. We have just suceeded in getting this place. We have €24k saved which is short for what we need to pay the deposit etc. I just talked to my solicitors and broker today and they said not to worry about the 10% as venders usually accept a smaller deposit as we are 100% mortgage ftb's. Did anyone hear of this before?
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