We have £100000 deposit and 4 people to put on the mortgage application who are our children is this possible or do we have to wait the new property is £350000.
When the transaction comes to light your IP will query where this £100,000 deposit has come from and might seek to have it paid into the IVA .. so do tread carefully.
Pretty much as Foggy has already said with regards yourselves - if the deposit monies were available without your existing property being sold it would depend where the money has come from as to whether your children could use it as a deposit. Lenders have really cracked down on where deposit monies are allowed to come from.
Consider using the funds to offer a Full and final and finish early, bearing in mind you may have to add 12 months to the term in lieu of the equity, depending on your terms.
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