10% Mortgages

MadAboutMoney

Hi,

Does anyone know of any lenders that are doing 90% (10% deposit) mortgages for first time buyers?

Thanks

sarkin

Yes I know

Heyman_2

Yes there are several - Google and the forum search facilities are your friends!

FSA website lists all the currently available deals too. Or speak to a broker.

adr0ck

MadAboutMoney wrote: »

Hi,

Does anyone know of any lenders that are doing 90% (10% deposit) mortgages for first time buyers?

Thanks

Britannia building society are doing one on their svr @ 4.99% no set up fee's

plus after 2 years you also get cashback every year (bit like quidco)

http://www.britannia.co.uk/home/mortgage/svr/index.html

MadAboutMoney

Thanks very much for your replies, I just phoned my son (as it was he that was asking) and he now tells me that he needs a Buy to Let mortgage :rolleyes:

So, do anyone know of a lender doing 10 deposit BTL mortgages?

(He has tried a broker who said minimum was 15% deposit)

Thanks

feisty1

15%!!!! for a BTL, more like 25! and some lenders will not lend to inexperienced landlords or people with no residential mortgage, i think he needs to discuss this with an independent mortgage advisor

MadAboutMoney

Thanks Feisty1, When I look all I can see are 25% deposit BTL's too. My son has seen a broker who says he can get 15% but our aim is 10% BTL...

feisty1

no chance! (and i am an adviser)

grogdog

even in the good old days btl's were 85%, so now you have no hope, try plan b

Wutang_2

MadAboutMoney wrote: »

Thanks Feisty1, When I look all I can see are 25% deposit BTL's too. My son has seen a broker who says he can get 15% but our aim is 10% BTL...

me too - can you quickly remind me who the 10% company is please?..and the broker? cheers

markelock

why would he want to?

will the market be correcting itself far earlier than anyone else is forecasting?