Does 95% LTV Morgage still exist?

callmechar

After reading this thread I am worried about getting a 95% mortgage

We rent, £825pm with a child. Where we live, thats on the cheap side. Almost £10k a year in rent. We save a fair amount each month but its not enough.

For us to save enough its another 2 or 3 years, fiance is 34 (nearly 35) - me a little younger, but we want to get on property ladder ASAP. We cannot move, nothing else cheaper here anyway. We want to get on ladder as hate private rented:
1. Paying someone elses mortgage
2. Landlord is useless, does repairs only when he wants too
3. Cannot decorate or make our own
4. Never know if LL will give notice or what happen end tenancy

shahgee

I totally agree that renting is just BURNING YOUR MONEY IN STOVE every month. 95% mortgage is perfectly manageable & are there for a reason. Delaying your decision would also mean that you would be losing out the benefit of stamp duty waiver which last till 24/03/2012. The 95% deals are there in the market but you have to speak to an independent whole of the market mortgage broker who can access your present situation & work out the best deal possible for you tailoring your dreams & inspirations.

pauletruth

I think people were concerned that you wanted to borrow 235k with a high intrest rate. they are just worrid for you thats all. Its your life if your very sure its what you want and can reasonably expect to be comfatable with the repayments then go for it. just go very carefully. and treat it as a home not an investment then if it drops in value it does not cause stress.

kingstreet

garth549 wrote: »

Back OT Halifax do 90% mortgages with a 5% vendor assisted deposit

Only on newbuilds now. VGD on second hand properties was pulled in July.