Are there any 100% mortgages out there?

sarahscott424

Hello

Can anyone tell me if there are any 100% mortgages out there? I've been scouring the internet but I can't find any, hiss boo!

My partner and I are sick of renting and would like to buy, we both have good credit history.

Thanks in advance :-)

beecher

No, there are none. You need at the very least a 10% deposit, plus fees. Get saving

sarahscott424

Arg, that's rubbish! I thought Endsleigh were doing them but I think I may have imagined it.

Cleaver

sarahscott424 wrote: »

Arg, that's rubbish!

Actually, it's quite a sensible policy that ensures someone has some equity in their home and has proved the ability to save some money towards a huge purchase.

So not that rubbish.

sarahscott424

You're quite right Cleaver, I just wish I could buy now. Oh well, off to save I go...

Alcofrolic

I have just managed to get a 95% through Yorkshire bank. But this was a deal that my broker had personally agreed with the Bank. Maybe you could speak to some brokers and see what deals they might be able to get you. There are no 100% ones out there tho.

tryinhardtosavethepennies

Alcofrolic wrote: »

I have just managed to get a 95% through Yorkshire bank. But this was a deal that my broker had personally agreed with the Bank. Maybe you could speak to some brokers and see what deals they might be able to get you. There are no 100% ones out there tho.

Are you a first time buyer or a home mover?

Every 95% mortgage I come across see to be for FTBs only! Which sucks, since quite a lot of people will be wanting to move, but with house price falls, find themselves with little or no equity left to make up a nice meaty deposit!

Alcofrolic

tryinhardtosavethepennies wrote: »

Are you a first time buyer or a home mover?

Every 95% mortgage I come across see to be for FTBs only! Which sucks, since quite a lot of people will be wanting to move, but with house price falls, find themselves with little or no equity left to make up a nice meaty deposit!

Im a first time buyer.

Antispam

When I got my 1st house back in 80's last boom and bust we saved all we could and still rented. I did a over time did without a honeymoon etc just to get a house

100%+ mortgages are the reason many of us are now paying the price because lenders lent out to people who could not afford it

sarahscott424

Thanks Alcofrolic, I'll contact some brokers and see what's out there.

charley83

100%+ mortgages are the reason many of us are now paying the price because lenders lent out to people who could not afford it

Not for all people.... we had a 100% mortgage because we COULD afford it but had no savings. I know this isn't the case for everyone but the reason mortgage lenders SHOULD offer 100% mortgages to those who can definitively afford it and not for those who can't IMO