95 per cent mortgage - presumably this is the 'norm'?

free4440273

hi, just need a quick straight-forward answer. i know there is a lot of talk of 100 per cent mortages. this i am not interested in. what i would like to know is, historially speaking (before this housing boom madness) what used to be a 'sensible' mortage ratio - as far as i know it was 95%. is this right and what does it really mean. is the 'missing' 5 per cent what you cough up as a deposit (in other words 100 per cent means no deposit needed). thanks all

herbiesjp

That is correct 100% no deposit needed borrowing 100% of the property value


95% = 5% deposit and borrow 95% of property value

HTH

free4440273

herbiesjp wrote:

That is correct 100% no deposit needed borrowing 100% of the property value


95% = 5% deposit and borrow 95% of property value

HTH

thanks so much. would you mind having a quick look at my previous post if you don't mind. it might seem as though there is a lot to read, because i have annotated my posts. if you think it is physically possible, would i be allowed to go through you as a broker? thanks
http://forums.moneysavingexpert.com/showthread.html?t=195251

herbiesjp

I'll have a look now at the thread.

Drop me a pm if you need any help