First time buyer, need a mortgage - no deposit!

RenovationMan

Meeper wrote: »

Being a homeowner is not the golden goose that people think. It is often better for some people to rent instead, so don't get caught up with the idea that home ownership is something to aim for. It's not the 1970's any more.

I agree, especially for people who need an element of mobility in order to enhance their careers.

Mortgage_Reduction_Novice

So we've established that you need to save...

As Yorkie1 has suggested, please post a statement of affairs... I think then you will get some constructive and practical advice on how you can cut back on your outgoings and how you can save for a deposit (and with any luck continue to save to run/repair a home).

Mrs_Z

Well, it's interesting that your post title says you 'need' a mortgage, then the body text that you 'want' one. What you need to do is learn to separate the needs from the wants! Once you can manage that and only buy what you need - hey presto, like magic you'll be on a way to save for a decent deposit.There is no shortcut to success I'm afraid.

stinkypluff

We've just applied for a house with the home buy scheme. You need at least a 4% deposit of the property value. The Government give you a 10% loan and the developer loan 10% and you get a 75& or 80% mortgage

Take a look into this....

Proxy

Why is everyone replying to a post made over a year ago?