95% LTV Mortgages

mruddy

Hi, I was wndering if i could get some advice. I am in the process of selling my house and due to the slump in the property market we are selling for what we paid in 2006 therefore we have no deposit for a new house apart from savings. Therefore we cannot put down more than a 5% deposit on a £150,000 house. Both my wife and i have steady jobs and will have no problems getting a mortgage for this value. I was just wondering if anyone knows who are doing the best deals out there for 95% mortgages. Should we go and see a mortgage broker?

Thanks

JJmcClure

Try Yorkshire Bank, they're doing 95%

Or Lloyds, but their deals needs someone to put 20% of the value of the property in a savings account for three years

It's sort of a guarantee

mruddy

Thanks, we are based in Northern Ireland so not sure if these would be applicable but thanks for the reply/

SelbyJay_2

Northern Bank are doing 95% deals.

Yorkshire only do 95% for FTB and Lloyds is really a 25% deal.

regsmith

Sorry need to raise this point, why are you selling if you have not got the deposit for the next house?

You should in my option wait and only sell when you have been able to save or the property price goes up.