95% mortgage

cooltt

Christiemollatt said:

Am not sure what that means as I am a first time buyer. Me and my partner are buying the property together. On one else involved. Does that answer it ? 

Lets put this to bed. Sorry but your going to need a minimum of 10% deposit at the moment, no lender will even look at 5% so forget what L&C have said its just not possible right now. HSBC are doing 10% but you need to call them first.

MovingForwards

Are you buying a whole property, just you and your partner?
Or
Are you buying part of a property eg 25%, 50%, 75% and the rest belonging to a housing association and you paying rent on the bit you don't own.

Avallon_2

Unfortunately there were a few 95% mortgages for first time buyers that have now dried up. The ones that remain require a family member to provide you with a deposit - e.g. Barclays' Springboard mortgage. 
If you can at least get a 10% deposit you will have more options, but as mentioned elsewhere on the thread, mortgage lending beyond 85% LTV is tricky.

Christiemollatt

Have read through all your comments. Thank you everyone. Sorry I don’t know how to reply to comment individually. I have read about the spring bored mortgage. Also it won’t be a part owned or shared property. So am looking for at least 10%. Not sure I can find that much. 

corcutt

Yeah lenders are going with 10% across the board to prevent losses in the case of a property market drop.