First Time Buyer 100% Mortgage

Honeysuckle4278

Thank you everyone for your replies.

phlash - by posting here I thought I was asking for advice and doing a bit of research by asking people who know a bit more about mortgages and buying property than I do? Perhaps I'm wrong.

I think you are all right, I had read/seen in the press that it is difficult to get mortgages anyway at the moment and that house prices may be set to fall - I think it will be best in the long run for me to rent somewhere cheaper and save for a deposit for a while. I think I just got a bit of a shock as my landlord's announcement about selling came completely out of the blue and the thought of moving house at the moment is a bit scary as I have some personal issues I'm having to deal with too which is why I contemplated buying the flat myself.

Thanks again everyone.

Wutang_2

where did I get this information from??...funnily enough on their web site!

www.1st-start.co.uk/summary.htm

knowing my luck by the time Minimike reads this - it will have been withdrawn!

phlash

Honeysuckle4278 wrote: »

Thank you everyone for your replies.

phlash - by posting here I thought I was asking for advice and doing a bit of research by asking people who know a bit more about mortgages and buying property than I do? Perhaps I'm wrong.

I think you are all right, I had read/seen in the press that it is difficult to get mortgages anyway at the moment and that house prices may be set to fall - I think it will be best in the long run for me to rent somewhere cheaper and save for a deposit for a while. I think I just got a bit of a shock as my landlord's announcement about selling came completely out of the blue and the thought of moving house at the moment is a bit scary as I have some personal issues I'm having to deal with too which is why I contemplated buying the flat myself.

Thanks again everyone.

Understand your sentiment in the above post after re-reading my own. Apologies, for sounding rather err.. patronising.

I hope you do choose to save hard, and good luck with everything thats going on.

minimike2

Wutang wrote: »

where did I get this information from??...funnily enough on their web site!

www.1st-start.co.uk/summary.htm

knowing my luck by the time Minimike reads this - it will have been withdrawn!

Hmm, thats odd....its not showing up anywhere else, not even on thier main website, which is showing max 97%.

Although I did notice this:

"For loans between 95% and 100% LTV, the parent must have held a mortgage for 3 years or own an unencumbered property."

So I expect they maybe only do one a month or something, if that!!


Do any other brokers know if the 95% - 100% is now direct only?

I still wouldnt put anyone on it anyway, but it pays to know whats happening with it.

Cazza

I can't spot it on the direct bit of thier website, looks as though the maximum is 95% there too, and that's a 5 year fix at 8.09% :rotfl:

http://www.bankofirelandmortgages.co.uk/