First time buyer, want a mortgage

Ian_Griffiths_Halifax

cleopatra4485 wrote: »

I don't really have time to watch GMTV in the morning due to my long commute into London everyday, I have only seen him a couple of times.

You would think he would be adviced before he makes a comment? You would hope.

Yes you would hope so, but .................

Barnes4

cleopatra4485 wrote: »

I have actually paid off most of my outstanding debt.

The fact is I want a mortgage, stop paying off someone else's mortage and get on the ladder, is that so suprising?

I have applied with no avail (before the credit crunch)

desperate is what I am not lazy, saving is easier said than done, as something else you need to pay for springs up out of the woodworks.

Cleopatra my I think that you should continue to pay off your debt and save for a deposit - this would leave you in a muchbetter position going forward. As others have mentioned house prices are falling. Also it seems strange that you imply you are managing comfortably and yet just one additional high interest loan would be enough to see you needing an IVA - this doesn't add up.

You should also check you credit report and look at what you can do to improve it. Once any defaults etc come off your report things will begin to look a lot better for you. Perhaps try one of these high interest credit cards and pay it off at the end of each month.

poppy10_2

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.

I think we should stop warning off people like this, and just let them buy. Financial darwinism.

mitchaa

no_more_debt_2006 wrote: »

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.

This should help you...

http://www.bristol-west.co.uk/more/firstStart/mortgageRates/MoreFirstStartMortgageRates.aspx

100% mortgages ARE still available

Tiddler_2

They are still available but it has to be a joint mortgage with a parent/close family member.

Jvic28

Ian_Griffiths_Halifax wrote: »

As I've said, I'd applaud him for this site and what you can learn from others. A lot is just common sense.

A lot is commen sense. However, in stressfull times commen sense can take a sabatical. (In my case anyway) Nice to have reassurance off people who have been in similar circumstances or who are (may be) real experts.

x

Conrad

If you want to borrow above 90% you need a very good credit record.