Noticed some changes? You can read all about the improvements we've made on the Forum in our latest announcement. We also have a new set of Forum rules so please take the time to give them a read and familiarise yourself.

5% deposit - Budget announcement- bad credit

Hi,
Anyone have an idea if the 5% deposit for mortgages which will be announced in  next weeks budget will apply to adverse credit mortgages? Can we expect to see a lower deposit requirement too?

Also, will rates become more competitive now and drop? I do worry that this will push the already inflated house prices up further, then there will be a price crash, and with a 5% deposit will push everyone into negative equity?

Thanks

Replies

  • csgohan4csgohan4 Forumite
    9.7K Posts
    Sixth Anniversary 1,000 Posts Name Dropper Photogenic
    ✭✭✭✭
    Crystal ball I'm afraid

    Adverse mortgages historically will need more detail and no one size fits all and will be individual. However as they are adverse, expect more criteria to pass or higher deposit/Interest is the general consensus
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ PIxie/ Bowelhead99 RIP
Sign In or Register to comment.