100% mortgage

baldmiller

Hi
My son and girlfriend are looking to move out of there flat that they rent,there lease runs out in june. As they have no savings towards a deposit on a house, and they do not wish to stay in the flat after june, is it possible to obtain a 100% mortgage if so what are the best deals on the market.

thanks

mrnomoneybags

My self and the missus where in the same boat in may last year..... wanted our own place and the perfect house came up.

We got a 95% Mortgage and a loan tied to it.

BAD IDEA looking back at it....... i wish i would have saved the £7 Needed for a deposit and fee's

We're now stuck for another 16 months @ 6.4%

So in short yes that can be done kinda.

paullwill8

I had a 100% mortgage with The Royal Bank Of Scotland, don't know if they still do it, also at the time Northern Rock did so at the time.

herbiesjp

WHat lenders/deals will be available will depend a lot of their current circumstances and what kind of income multiples they are looking for.

What prices are they looking to buy at in the area?
What are their incomes?
DO they have any other monthly financial commitments i.e. loans or credit cards

li21rv

Hey!

I have a 100% mortgage.
Are either your son or his girlfriend a graduate? HSBC do a 100% graduate mortgage? Think that Natwest also do one for first time buyers!
Wishing them both luck!

Kind Regards
Rhi x

frugglewump

li21rv wrote:

HSBC do a 100% graduate mortgage?

Although you have to have graduated in the last 6 years. I have this one as well and would have run out of time this July.

eileenfromplaistow

How's this for an idea?
In today's Guardian, Martin was criticising Alliance and Leicester for only charging their headline rate (5.something) on loans of EXACTLY £5000, not a penny more, not a penny less. If the house purchase was below £100,000, that would cover the 5% deposit, leaving you free to search for a low rate on the mortgage. In a couple of years consolidate.
And for my next trick.................................