Mortgage no deposit??

Hhzg

I wonder if anyone could offer any advice please? A bit long winded, so I apologise.
Ok I'm a 49 year old single mum, currently renting a Housing Association house, my daughter is nearly 18 if that makes any difference.
I've been single for nearly 5 years, and have just cleared all my debts (apart from a small amount on a credit card). I don't have a deposit for a house, and wondered if there was any way I would be able to get a mortgage without one, maybe take out a loan somehow?
I've also been looking at part rent, part buy but I don't really understand it all if I'm honest. I did have a mortgage 16 years ago with my daughter's father, but have rented since.
Is there any hope for me at my age? I don't want a big mortgage obviously, due to my age and being on my own. I currently pay around £300 a month rent.

strawb_shortcake

Potentially if you can take advantage of right to buy or right to acquire. 
Unless you get a good discount on either of the above options I'd expect your monthly repayments to be greater than £300 a month.
But if you don't have a deposit do you have any savings to cover legal costs and other fees not to mention money to fund any repairs once you own a house?

RelievedSheff

I doubt you will get a mortgage with no deposit of any kind and even if you did find a way, which is very unlikely, your repayments will be much more than the £300pcm you are currently paying in rent.

With shared ownership you will still have rent to pay of the share that you do not own.

I think in your circumstances you are probably better off staying in your rented property which has a very low rent.

foxy-stoat

There is hope but you will need 5 or 10 % deposit.

[Deleted User]

There is a shared ownership lender who doesn't need a deposit. And there is a lender who will allow a deposit from a loan. 

However I would seriously weigh up the benefit of secure tenancy at low rent against owning a home and being responsible for it all. 

thaddy

Yes you can through Right to Acquire if you have lived in your property for more than 3 years. Your discount can be used as a mortgage deposit so it's worth applying through your housing association.