95% mortgages

mel556

Does anyone know if anywhere does 95% mortgages anymore?

Searched but can't find any.

Planner

Didnt Nationwide reintruduce them last month?

mel556

Looked on Nationwide site, nothing there

mlz1413

I think 90% is the highest you are likely to find.

But if you have the 5% deposit now then by summer it could well be 10% if prices continue to fall.

Planner

I remember reading an article similar to this last month, they most have changed their minds!

http://www.timesonline.co.uk/tol/money/property_and_mortgages/article5355073.ece

ah, they are for existing customers moving house!

nimpoppy

Halifax did them back in november

chartreuse_2

mlz1413 wrote: »

But if you have the 5% deposit now then by summer it could well be 10% if prices continue to fall.

Didn't we have a special place for you people?

biffoire

2 weeks ago I was due to have a sit down with a financial advisor about 95% mortgages. Sit down was cancelled as the last two 95% products were taken off the market!

The 95% morts which were available also carried rediculous stipulations like getting your parents to guarantour and one was asking for a four figure fee. Nearly £2000 if I remember right. One look at that and I though saving the extra 5% was the way to go!

mlz1413

chartreuse wrote: »

Didn't we have a special place for you people?

Yep it's called the real world.

I'm not HPC scaremongering as a) house prices have started to fall b) the credit cruch has started c) I did not say don't get a mortgage d) I did not say 'we're all doomed'

But I don't see any bank, financial advisor or quality daily saying that house prices are set to rise nor even stay the same by the end of the 2009. So I don't think suggesting a 5% decrease in house prices by summer should put me in the nut house / HPC board.

chartreuse_2

mlz1413 wrote: »

Yep it's called the real world.

I'm not HPC scaremongering as a) house prices have started to fall b) the credit cruch has started c) I did not say don't get a mortgage d) I did not say 'we're all doomed'

But I don't see any bank, financial advisor or quality daily saying that house prices are set to rise nor even stay the same by the end of the 2009. So I don't think suggesting a 5% decrease in house prices by summer should put me in the nut house / HPC board.

Oh really? Then let me give you the benefit of the doubt and suggest that you are useless at sums. You said that a 5% deposit today could be a 10% deposit in summer. Let me put that in algebra for you:

0.05 x today = 0.10 x summer
summer = (0.05 x today)/0.10
summer = 0.5 x today.

You were predicting a 50% drop in value over the next 6 months, not a 5% drop.

Are you sure that you're not an HPC psychopath?:rolleyes:

puddy

gawd, ive come out in a cold sweat with visions of the black board in front of me,,,, shudder