First time buyer help

eltz21

I am a young proffessional who is looking to purchase my first property. BUT I havent got a deposit!!!

Where can i find good deals for first time buyers with no or little deposit? is this possible?

Are their any schemes available for first time buyers in my situation?

Thanks

sammyjammy

You cannot buy a house without a deposit, you'll need at least 10% (there are a few 5% deposit mortgages where a relatives savings are used as collateral etc or the rate is reasonably high.) You said "Are their any schemes available for first time buyers in my situation?" In what way is your situation special?

Why don't you up some numbers in www.fsa.gov.uk.tables and then start saving towards the necessary deposit and related costs.

DJ1UK

Will need at least 5% deposit if you go for a HomeBuy Direct (or similar scheme).

Best idea is to save at least 10% and get a mortgage, without the need for shared ownership.

DJ

Chris_Hinds

Also look at new build estates where the property developer offers to put up a 5% stake in the house...

VIGILANT22

Chris_Hinds wrote: »

Also look at new build estates where the property developer offers to put up a 5% stake in the house...

Can't even think of 1 lender who would lend on 5% gifted deposit...

Pincher

Have a look at:

http://www.sharetobuy.com/index.php

Maybe you can find other professionals with no deposits and pool your resources. :rotfl: