100% mortgages

Daddybear85

hi me and my wife are really wanting to get a foot on property ladder but to do this we would need a 100% value mortgage. we have no family that can help us and are just getting out of years of debt (caused by helping family) so I know its a long shot but has anyone heard of lenders who will do 100% mortgages??

Tomg84

Sorry but I don't think this is possible not without support from family in terms of security (either as property or money).

GoingOn30

This sounds like a terrible idea considering brexit is 5 months away.
Better to start saving a deposit and see how the land lies in a year.

csgohan4

Nope, there's a reason why the economy crashed due to these mortgages and more




Post on the debt free wannabee forums to get a look at your finances and save more

AnotherJoe

Congrats on getting out of money problems. Now take some time out to get your finances on a secure footing (which will help with better rates when you do get a mortgage) and accumulate a deposit. House prices arent rocketing up any more in most areas so there should no rush.

Mortgage_Adviser

There is nio such a thing nova days as 100% mortgages without a guarantor.

ACG

There are 1 or 2 lenders who will accept a loan as a deposit, providing it passes affordability. But personally, I would not do that nor would I let anyone in our company do it.

Could be worth investigating though?

Another option might be shared ownership. If you have say a £200k property and you buy 25% that would be £50k. A 5-10% deposit means as little as £2,500-5000 deposit.

Although I would personally look at saving a deposit. It will make your application look a million times better with an underwriter.