Buying our first home

Natalie0412

Me and my boyfriend would like to buy a home. My dad rents his old home out and has offered it to us for £100,000.

We earn £14,000 a year each at the moment and pay £500 a month rent so we are finding it hard to save.

Could we get a 95% mortgage?

I dont have a clue were to start so any advice would be great

Thanks

kingstreet

Your father lets a property, which he has offered to sell you for £100,000. Is that the market value, or is it worth more?

If you need a 95% mortgage, from whence comes the 5% deposit? Savings, gift, price reduction?

At the end of this thread, the conclusion is going to be "obtain all three versions of your credit file and put them in front of a whole market broker in your area. Ask friends and relatives for a recommendation."

So why don't we cut to the chase and get straight to the conclusion...?

Natalie0412

The house has been on the market before now for £110,000.

Im saving at the moment for my 5%.

Im only 23 and this is all new to me I dont know where to turn.

Thanks