Mortgages without a deposit?

gt568

Is it possible to get a mortgage without a deposit these days?

Might save me some time if it is?

Cheers dudes...

Kavanne

Nope.

.....

_Andy_

gt568 wrote: »

Is it possible to get a mortgage without a deposit these days?

Might save me some time if it is?

Cheers dudes...

No. The absolute minimum you'll need is 5% and you will find the choice very limited, the criteria very strict and the rates and fees high.

gt568

Clear as that then, no deposit no mortgage..

Even though I have a large disposable income and secure employment?

wymondham

afraid so ... best to save that high disposable income to make a sizable deposit - it's an awful time to buy now anyway.....

gt568

wymondham wrote: »

afraid so ... best to save that high disposable income to make a sizable deposit - it's an awful time to buy now anyway.....

Except an opportunity has arisen that is too good to pass up, need it now, not in a years time when I've saved a deposit sadly:rolleyes:

Kavanne

gt568 wrote: »

Clear as that then, no deposit no mortgage..

Even though I have a large disposable income and secure employment?

Start saving then!!!

gt568

Kavanne wrote: »

Start saving then!!!

As I alluded in my last post, I need the mortgage now, not in a years time or so after saving, due to an unforeseen opportunity...

Thanks.

Joe_Bloggs

@gt568
It if often a good idea to have some money put by in the case of unexpected events. A buffer of savings may be seen by a future lender as a sign that the saver has a mature attitude to the responsibility of borrowing money and paying it back.
J_B.

rovers808

if you're that desperate to get hold of the money now, you'll have to do yourself what the companies giving 100% or more were doing - 95% mortgage and 5% or more fixed loan. If you can get yourself a sizeable personal loan then theres your deposit so you can get the rest of the money as a mortgage (obviously the personal loan couldnt be secured as you dont have a property yet!) A gamble, but the only way you will get the money now.

DelBoyPhil

i laugh at the people that took a 125% mortgage and now cant pay it. and will try and get help from the state.. idiots.