95 0r 100% mortgages

Catty89

Hi, i was wondering if anyone was aware of any companys doing 95 or 100% mortgages in Scotland?

We have very little savings but have enough income to pay for a mortgage, at the moment we are renting so finding it very difficult to save anything near a 10% mortgage.

Thanks

lrlrip

Have you looked at Nationwide.

TDPIX

There are some 95% mortgages. No chance of 100% though.

Two quick questions:

1) Do you have family who are home owners? Some 95% mortgages require a home owner 'guarantor'

2) If you're finding you can't save whilst renting, are you sure you could handle a mortgage when interest rates go back up to around 5.5%? (This would amount to £100s more per month)

Catty89

between us we earn over 30,000per year so i know we could afford the mortgage, at the moment the mortgage would cost us less per month than our rent. We just are bad savers:( Our own fault i know.

Yes my Dad said he would be wiling to be gaurantor im just struggling to find any. We have a few thousand saved but really not enough for 10%,

ooo I just tried the nationwide one thanks, when i type it in online they are letting me have a 94.8% mortgage brilliant!! shall phone up and find out more.

opinions4u

Clydesdale Bank might be worth a look too.

Get saving and get saving hard. Bigger deposit opens the door to better deals that cn save you £thousands in interest.

Izzy529

Leeds building society also do 95% mortgages in Scotland.

The 5 year fix is at 5.99% so i think it works out bit lower than Clydesdale.

Thrugelmir

Catty89 wrote: »

between us we earn over 30,000per year so i know we could afford the mortgage, at the moment the mortgage would cost us less per month than our rent. We just are bad savers:( Our own fault i know.

Yes my Dad said he would be wiling to be gaurantor im just struggling to find any. We have a few thousand saved but really not enough for 10%,

ooo I just tried the nationwide one thanks, when i type it in online they are letting me have a 94.8% mortgage brilliant!! shall phone up and find out more.

Take a look at the NW's save to buy scheme.

House ownership is more than paying just the mortgage. Think of the things your LL is responsible for. That is paid for out of your rent.