100% Mortgage needed asap!! Please help!

JPB123

darcy2009 wrote: »

Haha Yes this is definitely a thrilling new post, so let me just say I was already offered a 100 percent mortgage by Halifax only reason we got declined was because of one debt I hadn't finished paying, this has now been cleared, so dont say they do not exist or im living in the past, just because mortgage companies threw out 100 percent mortgages in the past doesnt mean they are not still available, there just has to be special circumstances like parents selling to children, or even being a school teacher can get you 100%, under graduates are being offered 100%, and because I have gifted equity from landlord to tenant there are lots of brokers out there who specialize in this getting 100% mortgages, so il happily keep this post open because very soon il get this mortgage and sptread the love here, and csgohan4, Deposit? fees for stamp duty, solicitors, surveys, mortgage fees e.t.c?
This amounts to around £2500 give or take, thats not a problem at all thats covered already.
Hope you are having a great friday I look forward to more responses

If you've got a deposit from your landlord, it's not a 100% mortgage.


If it's Gifted Equity (ie: Deposit from parents), it's not a 100% mortgage.


I've had enough, I'm calling bullsh*t on you. If it was next week and the kids were off, I'd say it was just a troll.

I am an Independent 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.

Landofwood

darcy2009 wrote: »

Haha Yes this is definitely a thrilling new post, so let me just say I was already offered a 100 percent mortgage by Halifax only reason we got declined was because of one debt I hadn't finished paying, this has now been cleared, so dont say they do not exist or im living in the past, just because mortgage companies threw out 100 percent mortgages in the past doesnt mean they are not still available, there just has to be special circumstances like parents selling to children, or even being a school teacher can get you 100%, under graduates are being offered 100%, and because I have gifted equity from landlord to tenant there are lots of brokers out there who specialize in this getting 100% mortgages, so il happily keep this post open because very soon il get this mortgage and sptread the love here, and csgohan4, Deposit? fees for stamp duty, solicitors, surveys, mortgage fees e.t.c?
This amounts to around £2500 give or take, thats not a problem at all thats covered already.
Hope you are having a great friday I look forward to more responses

All the best with your purchase, do come back to let us know how you get on!

darcy2009

jaxkesa
"Why make an offer if you don't have the finance in place?"

After renting the property for nearly 3 years during this time a few emails have exchanged obviously to renew our contracts so once it popped up if we would be interested in buying the property in the near future, we said yes, then was asked what we would offer so made our offer, simple as that and out of the blue, we wasnt really planning on buying this house but its the way its turning out, so its quite easy to make an offer on a house without having the funds in place, especially if your already living there.

somethingcorporate

Except you made the offer with no way of following through.

You sound like an ideal person to by a house!

Malmo

OP, there is a very limited pool of lenders that offer 100% LTV, but these products usually:
a) require a guarantor (like a close relative) whose own property is used as collateral OR
b) require a relative who can deposit a % lump sum into an account held with the lender for a fixed term, after which it is returned if the mortgagee's payments are made on time

Halifax, which you mentioned - they do not offer 100% LTV for FTBs. Fact. You will need to provide a source pointing us to the product details if you are adamant it exists.

You offered on a property without the financing in place. But that offer was made directly to the landlord presumably? He/she is not in a position to financially qualify you to make sure you're good for the money. Only a mortgage broker/advisor and/or the lender can do that. Pretty much all estate agents would expect to see an AIP/DIP to give an indication of your borrowing power and affordability when making offers on properties.

sheramber

If you know there are lots of brokers who can get you a mortgage why are you asking on here?

darcy2009

sheramber
When you search for a particular service on the internet you will come across many companies advertising what your looking for, not that you will qualify for these services but they offer them anyway, you have speak to them to find if you can qualify for there service. Didnt think that was to hard to figure out. This is supposed to be a place to come for decent information, that is what forums are for, When really its just full of mostly Tools like JPB123.
If you cant offer people advice because you dont know the answer to their questions please dont think you special enough to put them down, because as you can see there are varied views on this subject.
somethingcorporate That offer was the start and I will follow through, dont know who you think you are, dont judge me as any kind of person you sound like a person who has alot of issues and anger and are only outing your frustrations on my post, you sound like an ideal person to have in anyones life.

darcy2009

I also have a number of brokers calling back Monday who I contacted only yesterday as obviously im making lots of phone calls, they are quite optimistic that I can obtain this house with gifted equity from the landlord. So im very sorry if ive confused a Gifted Deposit form the landlord as a 100% mortgage.

JPB123

darcy2009 wrote: »

This is supposed to be a place to come for decent information, that is what forums are for, When really its just full of mostly Tools like JPB123.
If you cant offer people advice because you dont know the answer to their questions please dont think you special enough to put them down, because as you can see there are varied views on this subject.

I've been a Financial Advisor for 15 years, so I know exactly what I'm talking about. You were told a number of times that what you wanted wasn't available, and that what you were talking about didn't mean what you thought it did.


Your own arrogance in carrying on thinking your own opinion was right and everyone else was wrong was what lead to me calling you out. So if I'm a tool, you're an ignorant fool.

I am an Independent 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.

shortchanged_2

The OP is talking a load of guff.