Is there such a thing as a 95% mortgage

lawlie

Idiophreak wrote: »

Do you know roughly how much you're looking to spend on the house?

tbh, you're on a very good wage and it seems like you should be able to save something in the way of a deposit pretty quickly (especially with those bonuses).

Do some of the maths, look at the rates available on 95%, vs those on, say, 90% or 80%. See how much extra it would cost you over the term of the thing. See how long it would take you to save 5%, 15% and see how long you're willing to wait in order to save that much money...

Thanks - you are of course, right about saving for a bit longer and then getting a better rate. That was the original plan except I've just seen somewhere that I really like in a decent area at a decent price (house prices in London are crazy... completely unsustainable in Central London and pricing out most normal people!).

The property is advertised for £330k.