Mortgage with no deposit

kenshaz

_Andy_ wrote:

Ken - Northern Rock offer the 'Together' mortgage which is up to 125% LTV (although technically only 95% of it is secured)

Must be some catches,high interest rate,redemption penalties.Really it is a 95% mortgage,with the rest as an unsecured loan on their terms.

herbiesjp

_Andy_ wrote:

Ken - Northern Rock offer the 'Together' mortgage which is up to 125% LTV (although technically only 95% of it is secured)

Indeed Andy - there are other lenders out there that can look above 100% - but these should be looked at after careful consideration and explanation of the implications of 100% lending

kenshaz

Up to 95% of the value of your home is a secured mortgage. The remainder is an unsecured loan of up to £30,000 which is at the same interest rate as the secured mortgage.

jamtart6

MortgageMamma wrote:

What is your occupation? if its deemed as a "profession" and you are at the start ofyour career you could get a 100% mortgage and have one of your parents guarantor it if possible, otherwise you would need at least a £9k deposit plus about £3k min for legal fee's, also, you can generally only get a 100% mortgage at mroe than 3.75 x income if you have a medium/good credit score

Can you get a higher mortgage if you are 2 years away from a professional career? Or would it depend on other things too? I can currently get one for 50k on my own, in two years, my salary should double (at least).....could I get one for higher than 50k now?