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100 % mortgage first time buyer
pitsmoor
Posts: 19 Forumite
Hi all
I know the financial system at the moment is bad but ive recently let a property and the landlord has just put it up for sale at the moment me and by partner dont have enough money for a deposit and was hoping there might be 100% mortgages out there if anyone knows could you let me know.
thankyou
I know the financial system at the moment is bad but ive recently let a property and the landlord has just put it up for sale at the moment me and by partner dont have enough money for a deposit and was hoping there might be 100% mortgages out there if anyone knows could you let me know.
thankyou
0
Comments
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Then save, save, save. A 100% mortgage is for mugs right now.After the uprising of the 17th June The Secretary of the Writers Union
Had leaflets distributed in the Stalinallee Stating that the people
Had forfeited the confidence of the government And could win it back only
By redoubled efforts. Would it not be easier In that case for the government
To dissolve the people
And elect another?0 -
Hi all
I know the financial system at the moment is bad but ive recently let a property and the landlord has just put it up for sale at the moment me and by partner dont have enough money for a deposit and was hoping there might be 100% mortgages out there if anyone knows could you let me know.
thankyou
Yes, there aren't any.0 -
If you can't save a deposit - how are you going to pay the extra cost of a high interest rate mortgage?
You can't afford to buy the house. Chances are the LL won't be able to sell it (for the price he wants) so carry on renting for a while.0 -
Hi Pitsmoor, you're probably better off posting this on the Mortgages board.
However, no, there are no 100% mortgages right now. At the moment you realistically need a deposit of 15-20% of the purchase price.
You really only can save, and wait until you're in a better position with both a deposit and savings (for emergencies etc).
Sorry, I know that's not what you want to hear.
KiKi' <-- See that? It's called an apostrophe. It does not mean "hey, look out, here comes an S".0 -
Hi Pitsmoor, you're probably better off posting this on the Mortgages board.
However, no, there are no 100% mortgages right now. At the moment you realistically need a deposit of 15-20% of the purchase price.
You really only can save, and wait until you're in a better position with both a deposit and savings (for emergencies etc).
Sorry, I know that's not what you want to hear.
KiKi
The bankruptcy board if they go ahead now.0 -
Halifax still offer up to 95% LTV, but with fairly high interest rates. If you want a decent interest rate it's a case of finding a 15% deposit.
Nobody does 100%, and you really wouldn't want it anyway with house prices dropping.
There are a couple of Government backed schemes (Homebuy) which help towards a deposit. But expect a lot of grief if you apply for them, they seem to be run by a tiny amount of staff who are struggling with thousands of enquires.0 -
Hi all
I know the financial system at the moment is bad but ive recently let a property and the landlord has just put it up for sale at the moment me and by partner dont have enough money for a deposit and was hoping there might be 100% mortgages out there if anyone knows could you let me know.
thankyou
You can find the 100% mortgages in Isle 7, right between the attractive lesbians and the honest politicians.[FONT=Arial, Helvetica, sans-serif]Rise like Lions after slumber
In unvanquishable number -
Shake your chains to earth like dew
Which in sleep had fallen on you -
Ye are many - they are few.[/FONT]0 -
right now a 100% mortgage means negative equity the day after you buy it.0
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If you can't save a deposit - how are you going to pay the extra cost of a high interest rate mortgage?
You can't afford to buy the house. Chances are the LL won't be able to sell it (for the price he wants) so carry on renting for a while.
What a crazy assumption.
just because they dont have a deposit, it does not mean he couldn't afford a mortgage.
When I qualified for my job, my pay went from £27000 up to £57000. I had no deposit as i couldn't save for one on a low wage, but I could afford the mortgage, as I bought when my circumstancess changed.Debt free. March 20200
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