Mortgages without a deposit?

gt568

Kavanne wrote: »

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

I've already explained I used it to pay off debts that I accrued foolishly when younger.:rolleyes:

!!!!!! I asked a simple polite question and I get judged and lectured w/o people knowing the facts.

Kavanne

gt568 wrote: »

I've already explained I used it to pay off debts that I accrued foolishly when younger.:rolleyes:

!!!!!! I asked a simple polite question and I get judged and lectured w/o people knowing the facts.

OK so does this mean you believe you may be unable to get a 0% credit card or any kind of loan?

ianian99

Kavanne wrote: »

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?

I can read. I was referring to using cards to pay the deposit.

rovers808

gt568 - I completely agree, I asked a simple question on here and just got a load of 'I told you so' back instead of a quick answer. These forums seem to be full of people who delight in telling everyone who is struggling 'I know better and you're an idiot for being in trouble, you should have known all along' which is not helpful and not what is required. Can people please take note that when newbies come on here and ask a question we just want some help and impartial advice.

maninthestreet

rovers808 wrote: »

gt568 - I completely agree, I asked a simple question on here and just got a load of 'I told you so' back instead of a quick answer. These forums seem to be full of people who delight in telling everyone who is struggling 'I know better and you're an idiot for being in trouble, you should have known all along' which is not helpful and not what is required. Can people please take note that when newbies come on here and ask a question we just want some help and impartial advice.

The OP got a simple, straight answer of 'NO' to their original question of whether they could get a mortgage without a deposit. Apparently, this was not an answer he liked to hear, so told everyone he has a large disposable income and secure job, and thought that would somehow make a difference (it doesn't). Naturally, the OP was then questioned on why no savings were available from such a large disposable income from a secure job.

abby1234519

I do have to say to the OP. Noone was judging you however if you state that you have a high disposable income but no deposit then I do agree with the very helpful person who told you that there are no 100% mortgages, that yes you need a deposit.
The trading off 'saving for the future' for 'spending money now' was not a judgement, it was fact.

If you don't have anything to sell to raise a deposit thats fair enough, but I bet if I asked the same question, I'd have gotten the same response.

LilacPixie

As you can probably gather from previous responses Nope 100%+ mortgages are not available and IMO will not be for a while to come.

I am a touch puzzled about your circumstances tho. You say you have a secure job and a high disposable income yet no deposit. You say that this is because you have clears debt obtained when you we younger which is fair enough. I do have to wonder why someone who has had to spend their high amount of disposable income servicing a debt would them want to immediately obtain a 100% mortgage on a house that will literally be into negative equity within weeks.

My advice would be to save as much as possible for what seems like a bargain at the moment will no doubt be more of a bargain in 12-24 months time.

speedbird1973

If your bad credit is within the last 6 years. You won't get a mortgage.. 100% or 90%

end of.

Looks like you'll be passing up on that too good to miss deal!!