100% Mortgage

dunstonh

Surely in 5-10 years houses will be worth a bit more than they are now?....

Well,lets look at the last price crash. Many areas took 12 years or so to recover if you bought at the high point. House prices dont generally drop overnight but over a period of years. They could keep going down for 5-7 years slowly and then take just as long to go back up again.

Conrad

Every person I'Ve ever discussed crash with says "prices wont drop in MY area".
Last time EVERY area was affected. My ex father in law had a hone in one of the most prestigious areas of the south east called Hadly Wood which is populated with footballers and surgeons, and yep, the price HALVED in the last crash.

In silicon valley and orange county California (where they said prices would never fall due to mass influx of immigrants and high employment) you can pick up property for 50% less than 1 year ago - 50 %!!!

THE MORTGAGE WORKS 100% deal has very tough criteria. Unless you are the perfect borrower you will have no chance.

Dan_Collins_2

Most 100% deals look like they have been set up so that nobody will pass the score and get one!! I would seriously consider renting before you go for a 100% and get your self in trouble. Then again it depends on an awful lot so its your choicE!!

JoJoArmani

dunstonh wrote: »

Well,lets look at the last price crash. Many areas took 12 years or so to recover if you bought at the high point. House prices dont generally drop overnight but over a period of years. They could keep going down for 5-7 years slowly and then take just as long to go back up again.

Ok, I see what you mean. Suppose the best thing to do is either wait or buy a house you intend to live in for years and years (and hope you don't get forced to sell!)...