First Time Buyer's Guide To Mortgages

capcrackers

What about a guarantor mortgage, who offers these?

_Andy_

That still isn't going to achieve borrowing more than the property value.

capcrackers

But what about guarantor 100% options are they available?

_Andy_

No 100% mortgages exist. You need to keep saving.

fru_2

I want to buy a house. Like many people I left Uni with a student loan and was doing a post grad course. After that I rented and repaid my loan each month. Now, years later I have finished paying off my debt.
I live with my bf abroad.
We want to buy a house back home in the UK as I know if I dont now, I never will.

I have a job abroad, my bf offered to guarantee the mortgage for me, but I'd rather do it myself.

capcrackers

Are there any 95% ltv mortgages out there?

Israfel

TTMCMschine wrote: »

We're trying to get a mortgage as 1st time buyers with the Halifax & they're messing us around something chronic - it's been 3 months & we still haven't got the mortgage offer.

They've had us going round & round in circles asking for more & more ridiculous information only to get to this week & they've gone back to step 1 wanting even more payslips.

We're only borrowing (or not borrowing at the mo) £97K, we're putting down around £33K, the mortgage will only cost £450 per month & our income is conservatively £33K per year.

We have no debt, no ccj's or other black marks, the last time I checked my credit rating I was on 999/1000.

I get the distinct impression that all of the taxpayers money has gone to recapitalising the banks and they have little intention of letting leave the balance sheet.

It's disgraceful.

It's depressing isn't it. I'm in a similar boat, have absolutely no debts. Perfect credit history, A good solid income and at least 10% of a potential mortgage raised and I'm really starting to worry that I'll have real trouble getting a mortgage, I've already been told by Lloyds that they won't be giving me a mortgage (despite having thousands saved with the bank and doing all my banking with them) as they only do LTV of 75% and I don't have anyone that can go guarantor or borrow me money like that. I guess it's early days but I'm not even looking at houses yet as I don't want to see one I really like only to find I can't get a mortgage for it or the rates will be through the roof

cons

Hi

first post here, been lurking for years i thought a signed up about 2 years ago but turns out it was MSE newsletter i signed up to

anyways

i am looking at getting onto property market.. i am 20 years old.

£15k PA, my girlfriend makes around 15k PA aswell.

Luckily for us, houseprices in the area are pretty low :T

we have seen a 2 bedroom, end terrace, gch, dbl glazing etc

offers over £58,000 ( offers over because i am in Scotland :mad:)

Can anyone see any problems with us finding a sensible mortgage, i would be putting down a 10-15% deposit

many thanks

_Andy_

Hi cons and welcome to MSE

Assuming you both have no adverse credit etc and no huge outgoings on debts that all looks fine.

cons

I have a car which i am paying off around £220 per month that is direct debit and i have never missed payments

i don't know where to start from here.. do i book an appointment to view house, or do i make sure i can arrange finance with someone first