Mortgages without a deposit?

gt568

Kavanne wrote: »

Surely a quick way to raise a deposit if you DO have some expensive stuff?

Sorry but unless you have some way to raise a deposit it ain't gonna happen!!

I don't have expensive stuff, I've used my money to be pay off a personal debt mess I ended up in years ago..

gt568

maninthestreet wrote: »

There are no 100% mortgages currently available. You need a deposit. That's the answer to your original question.
You chose to spend your high disposable income rather then save it.
You traded off 'saving for the future' for 'spending money now'.
That was your choice. As a result, you now can't secure a mortgage you need as you have no money in the bank for the deposit. You made your bed, you have to lie on it. Selling some of the goods you bought in the past with your high disposable income might be a way to raise the cash needed for the deposit.

I didn't ask for a lecture, I asked a simple question. You don't know me or what I have done with my money. I have been paying off my personal unsecured debt that I stupdly ended up in when I was much younger and as such I don't have nice things. I haven't been spending my money on anything other than sorting out my previous mistakes, which is more than some do...

You shouldn't be so quick to judge.

gt568

bfgun wrote: »

Out of curiosity what line of business are you in where your job security is secure?

I work for a part of the government that is very busy at the minute and will be for a very long time...;)

maninthestreet

gt568 wrote: »

I didn't ask for a lecture, I asked a simple question. You don't know me or what I have done with my money. I have been paying off my personal unsecured debt that I stupdly ended up in when I was much younger and as such I don't have nice things. I haven't been spending my money on anything other than sorting out my previous mistakes, which is more than some do...

You shouldn't be so quick to judge.

The members of this forum have a number of skills and attributes; mind-reading isn't one of them. The botttom line here is that you won't get a mortgage unless you can raise a deposit. That's the way the mortgage marketplace currently works. No one here on this forum can change that. We are just messengers passing on a message you don't want to hear.

robin_banks

Agree with all other posters - 100% mortgages are an absolute thing of the past, also agree with otehr posters - start saving.

bfgun

gt568 wrote: »

I work for a part of the government that is very busy at the minute and will be for a very long time...;)

Ah, think I know where you`re coming from :cool:

You`re dealing with all the peoples lost data

gt568

maninthestreet wrote: »

The members of this forum have a number of skills and attributes; mind-reading isn't one of them. The botttom line here is that you won't get a mortgage unless you can raise a deposit. That's the way the mortgage marketplace currently works. No one here on this forum can change that. We are just messengers passing on a message you don't want to hear.

I don't mind the answer at all. Thats fair enough.

What is bang out of order is the assumptions you and others made. You shouldn't judge so quickly. You could have easily answered the question without adding your personal 0.02p WRT trading off spending today or selling all the expensive things I don't have.

Kavanne

Well one wonders where all your disposable income went? Sorry, that's just me!!

I am not ashamed to admit my partners parents helped us with our deposit but we did some hard graft too and that's what proved to them we were in it for the long haul. So any parents who can help? Again, you've had some advice re: the 0% credit cards but you have to bear in mind a lender will take into account any other borrowing for affordability purposes.

ianian99

use credit cards like loads of muppets that are now getting repod did! lol

Kavanne

ianian99 wrote: »

use credit cards like loads of muppets that are now getting repod did! lol

well the OP thinks they would have the income to pay them but doesn't have the time to save...

What is your budget for the house, OP?