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Getting a loan to use as a deposit for a mortgage
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I thought the problem has been solved - i.e. they have stopped giving out silly LTVs?
As anotherPaul says , FTB,ers need a hefty deposit and additional costs to buy, so in my opinion the housing ladder is well and truely stuck for some time to come,I don't believe there will be much movement in the next 5yrs soley due to the affordability factor...Which has not yet been addressed.
If you consider a property costing £160k (which is small rabbit hutch in SE) and you want a motgage of 90% then with additional cost your going to need around £20k deposit and even then you would be on a high rate,go back 12 months and you could have borrowed the lot,the average person will take years to save £20k.......also consider taxes will go up too.
Housing ladder....stuck,stuck,stuck..........0
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