First Time Buyer's Guide To Mortgages

mickey88_2

why don't you see this, too!

[FONT=돋움]http://www.youtube.com/watch?v=PmPehYNj5cA[/FONT]

PasturesNew

drinky wrote: »

My daughter wants to buy a place for £125k to be more independant. Currently living with me. She earns about £16k/yr and a financial advisor (friend!) has told her he can get her a self certified mortgage for £120k. She can find a 5% deposit. The "interest only" payments are about £540/mth. I think the rate is ~5.8%. I feel it's just a stretch too far given the rest of her real commitments such as bringing up a baby & running a car etc, although she has no other debts at present.

From back in 2006 .... I wonder if she ever did do that ....

becky2011

PasturesNew wrote: »

From back in 2006 .... I wonder if she ever did do that ....

I hope not:eek:

green.jeni

What the best mortgage for a first time buyer who has a large deposit ready (approx 50% ltv).

_Andy_

green.jeni wrote: »

What the best mortgage for a first time buyer who has a large deposit ready (approx 50% ltv).

Too broad a question. You'd be best off speaking to a decent whole of market broker.

ewanpetrie

Channel 4 News is keen to speak to a first time buyer struggling to get a mortgage. Have you been looking for a property for a while but feel like you've been frozen out of the mortgage market? Have lending conditions become so tight that you feel you will never be able to own a property?

If so please get in touch via email [EMAIL="ewan.petrie@itn.co.uk"]ewan.petrie@itn.co.uk[/EMAIL].

Many thanks,
Ewan

magicjohnson1984

Evening all,

My fiancee and I are looking at a new build property and are considering offering on it.

I have heard that new builds roughly work on a 30% margin? Is this true as obviously, like any other first time buyer, we wish to get the price as low as possible?

Any ideas what we would should offer on, say a 190K house, on a 75% / 25% scheme?

Thanks in advance,

leemuddywaters

Hi all. One quick question. Is it possible to get a mortgage with a default on your credit report? I have default for a loan of £3000 which I am paying off although it went to a DCA due to travelling for a year. Any info would be appreciated.

Thanks

Lee

_Andy_

leemuddywaters wrote: »

Hi all. One quick question. Is it possible to get a mortgage with a default on your credit report? I have default for a loan of £3000 which I am paying off although it went to a DCA due to travelling for a year. Any info would be appreciated.

Thanks

Lee

Yes, depending on how much deposit you have.

adamgg

This forum has been of great help in knowing what to do, I am a first time buyer and have been at a loss as to what to do until I came onto the forum.

I have a question for you people in the know. I have found a new development and went to see about a mortgage. I was told that the "pre mortgage application" to see if the mortgage application would be accepted was fine but since that realised that as a mortgage offer will only last 6 months and the house isn't going to be finished for 10 that the application would have to wait. My dilemma is this - I am currently looking for new employment (in a steady job currently but having issues with employer) and was wondering; if i take a new job in the next couple of months will that adversly affect my mortgage application when it goes ahead?


Thanks for any help.