100% LTV 1st Time Buyer

lisachester

Hi,

I am relocating with my work and will be much better off if I buy a property. I do get 6 months in rented accommodation until I find a property but I obv need to start thinking about this now. I have only just graduated and therefore have no savings, nor parents who can assist with a deposit. I will need to go for 100% LTV because the time I have until purchase will allow me to repay some student debt. I will be earning approx. 21k and will be buying in or around the Leeds/Wakefield area - any suggestions of location would also be welcome! :rotfl: Properties I have seen range from 50k-75k so this should hopefully be plausible on my salary.

Does anyone have any suggestions which provider would be useful to investigate etc. please?

Thanks in advance.

P.S. I have recently checked credit score before looking into all this, and it came back good

MortgageMamma

you should be ok for a 100% mortgage but I would rcommend you seek advice as the 100% deal vary widely. As for areas in Leeds, I am fairly local, horsforth is nice, as is headingley is ok if you like the student lifestyle, Otley amd Ilkley are lovely if you have your own transport. In fact most places on the east side of leeds are OK. check out upmystreet.com for local facilities and ourproperty.co.uk for house previous purchase prices. What profession will you work in?

HTH

MM

lisachester

Ironically I will be in banking and finance, but my company cannot help with 100% LTV. Thanks for the advice regarding locations etc., this is proving to be difficult when looking for properties. There are some really nice places in the locations you mentioned, but I don't want to jump in; get a few months behind me and settle into my new job.

MortgageMamma

good luck with it all. keep your eye on the ball with rightmove.co.uk for the next couple of months, and good luck with the new job! I'm 25 miles or so from leeds (nr burnley) but its great for nightlife!

hells_2

Good lenders for 100% LTV = Bank of Scotland and many of the building societies, as they use real people to make the decisions...much like the bank I work for! (none of that 'computer says no' nonsense!)

Debt_Free_Chick

lisachester wrote:

Hi,

I am relocating with my work and will be much better off if I buy a property. I do get 6 months in rented accommodation until I find a property but I obv need to start thinking about this now.

Is the company paying the rent? If so, save the maximum amount you can for 6 months. It will either give you a deposit, which could get you a better mortgage deal, or you can use it for fees and any other costs. :j

MortgageMamma

bank of scotland are currently taking at least 20 days to issue an offer (I think its more like 8 weeks but royal bank say 20 days) be wary if you plan to use them and warn the vendor that you are unlikely to complete quickly