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100% mortgage offered by a bank
free-range-4
Posts: 10 Forumite
I, like most are in the postion of waiting for the banks to re-instate the 95% LTV for a mortgage on a property, instead of the current 90% LTV all the banks are after.
Although, my family and I are private tenants, we have registered with the local council and housing associations, for part buy/part rent. I noticed on their website a scheme backed by the Government in co-operation with the bank the Co-operative.
Please click on the link below :-
http://www.ownhome.co.uk/servlet/Satellite?cid=1213946567253&pagename=CFScombi/Page/CFSCtplBlank
It is a home owner loan (mortgage) for 100% value of the property. I have telephoned and given my details, basically you wait for them to contact yourselves direct to go through all the forms etc and are notified of a decision within three days. Has anyone tried it or is it a waste of time and probably money?
Although, my family and I are private tenants, we have registered with the local council and housing associations, for part buy/part rent. I noticed on their website a scheme backed by the Government in co-operation with the bank the Co-operative.
Please click on the link below :-
http://www.ownhome.co.uk/servlet/Satellite?cid=1213946567253&pagename=CFScombi/Page/CFSCtplBlank
It is a home owner loan (mortgage) for 100% value of the property. I have telephoned and given my details, basically you wait for them to contact yourselves direct to go through all the forms etc and are notified of a decision within three days. Has anyone tried it or is it a waste of time and probably money?
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Comments
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HA! Funny.....
and who are these people ("like most") waiting for the banks to reinstate 95% mortgages??Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
People employed with no debt and no house to sell? Just a guess of course :rotfl: 0 -
no debt??...and this constitutes for "most"?Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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For NI individuals banks do have 95% mortgages on offer. Look at Northern Bank and Bank of Ireland.MFW 148 - Mortgage £121,000 1Jan11 / Mortgage £120,300 28Jan11 / £119,808 24Feb11 / £119,400 22 April11 / £119,089 29 May11 / £118,500 October110
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Bank of ireland. Now that makes me feel confident.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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