First time buyer, want a mortgage

no_more_debt_2006

Hi All,

I am single, and I want to get a mortgage, currently have 2 defaults, one is coming off this october and the other next october. I have paid my debts every month.

Is there any mortgages that would offer 100% or any other mortgages with less deposit?

I could only afford 2% deposit if any. If you could help me in the right direction that would be great, please get bac to me.

Thanks.

jonesMUFCforever

In the present climate and with your credit history IMO you will find it very difficult to get a mortgage.

You will need a minimum of 5% - with some lenders it will be 10%.

meanmachine_2

no_more_debt_2006 wrote: »

Hi All,

I am single, and I want to get a mortgage, currently have 2 defaults, one is coming off this october and the other next october. I have paid my debts every month.

Is there any mortgages that would offer 100% or any other mortgages with less deposit?

I could only afford 2% deposit if any. If you could help me in the right direction that would be great, please get bac to me.

Thanks.

In-cre-di-ble.

Property prices are falling, you've got defaults, you've no deposit to speak of, it's probably the worst time to buy, and yet here you are wanting to buy.

Crazy.

no_more_debt_2006

meanmachine wrote: »

In-cre-di-ble.

Property prices are falling, you've got defaults, you've no deposit to speak of, it's probably the worst time to buy, and yet here you are wanting to buy.

Crazy.

if you want to give me commets then do so but dont be immature and cheeky I dont want immature kid replying to this thanks.!!!!!!

Smithyp1

meanmachine wrote: »

In-cre-di-ble.

Property prices are falling, you've got defaults, you've no deposit to speak of, it's probably the worst time to buy, and yet here you are wanting to buy.

Crazy.

'worst time to buy' ..??

Surely it's a good time to buy and haggle?

Riq

I think it's the worst time to buy 100% mortgage wise as this may not be the bottom of the property fall.

meanmachine does have a point though regarding your credit history and deposit amount, you will struggle to find it. Really you will.

cleopatra4485

I know its not ideal, but I am in the same boat.

I was thinking about get a high interest loan (because of my bad credit) to cover the deposit. My sister in-law (who is in the industry) told me that you can get a 90/95% mortgage even with bad credit.

Paying off a couple of the loan installments, and then applying for an IVA including other debts you may have.

If you can get a mortgage this surley would be the best time to buy, with the lower house prices

Am I crazy :rotfl:

jonesMUFCforever

cleopatra4485 wrote: »

I know its not ideal, but I am in the same boat.

I was thinking about get a high interest loan (because of my bad credit) to cover the deposit. My sister in-law (who is in the industry) told me that you can get a 90/95% mortgage even with bad credit.

Paying off a couple of the loan installments, and then applying for an IVA including other debts you may have.

If you can get a mortgage this surley would be the best time to buy, with the lower house prices

Am I crazy :rotfl:

Are you for real?
If so you are sectionable and sick.

cleopatra4485

jonesMUFCforever wrote: »

Are you for real?
If so you are sectionable and sick.

I am fed up of renting

Why is that a bad idea?

Riq

Wont that absolutely destroy your credit rating?

cleopatra4485

Riq wrote: »

Wont that absolutely destroy your credit rating?

No thats the thing. IVA's don't

I actually think I am being quite clever