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Mortgage advice needed.
KayJ066
Posts: 345 Forumite
Hi All,
Me and my Fiance, are looking to buy our own house, or maybe shared ownership.
We have no savings whatsoever, jointly earn around 25k p/a and dont want huge repayments etc etc
Not sure what type of mortgage to go for or even if anyone does 100 or more % lenders/
can anybody help?
Me and my Fiance, are looking to buy our own house, or maybe shared ownership.
We have no savings whatsoever, jointly earn around 25k p/a and dont want huge repayments etc etc
Not sure what type of mortgage to go for or even if anyone does 100 or more % lenders/
can anybody help?
0
Comments
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Hi Kay
There are lenders who do 100% for shared ownership, bt you won't be able to borrow more than that on shared ownership.
If buying on the open market, there are lenders who will lend up to 125% of property value.
There is also another option which you may want to consider instead of shared ownership, here are the details http://www.communities.gov.uk/index.asp?id=1162819
But before you decide anything, take the advice of a broker and have the broker give you a maximum borrowing amount.
MMI am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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