First time buyer advice.

ymakesmile

Can anyone recommend who would be best to go for on a good deal for a first time 100% mortgage on a 2 yr fixed rate?

Thanks!;)

herbiesjp

At 100% borrowing you need to have a squeaky clean credit history - have your checked your credit file?

Conrad

There is no best mortgage, just as there is no best holiday or car.

Please define what your needs are, for example do you want 4 x income or 5 x income? Or do you want 3.75 x a joint income?
Do you want lowest rate, with a high fee or a reasonable rate with a small fee?
What is the property like - in particular is it ex council or conrete?

Are you areg over 21

Lisa_Loon

herbiesjp wrote: »

At 100% borrowing you need to have a squeaky clean credit history - have your checked your credit file?

Ours wasn't squeaky clean.

We tried for a mortgage in 2003 and were turned down so I looked on experian and my credit rating was poor. I managed to improve that to "good" but we had a lot of debt and at the end of 2005, Northern Rock took us on a Together mortgage that was 125% of the property value. So we had the 100% for the mortgage and the other 25% as an unsecured loan which consolidated our debts.

Obviously that loan is for the life of the mortgage (35 years :eek: ) but when we're off our debt management plan I'm going to look at either changing the term or making overpayments...

herbiesjp

That was in 2003

Northern Rock are now on very wobbly ground, and the credit crunch has well and truly hit.

So whilst it was possible back then, it has become more difficult now

Best to get a copy of credit file first, to see how things stand, rather than getting nasth surprises further down the line