100% mortgages,help please

[blueandwhite 10]

Does anyone know if anyone is doing 100% mortgages at this present time.Me and my partner dont have a deposit and are looking to buy.

[theripsaw 10]

Have a look at this

http://www.metro.co.uk/news/article.html?A_100%25_home_loan_on_taxman&in_article_id=445921&in_page_id=34

 

And call these

 

http://www.lcplc.co.uk/

 

These get lots of recommendations and i have used them.

[Danny_Boy 10]

Does anyone know if anyone is doing 100% mortgages at this present time.Me and my partner dont have a deposit and are looking to buy.

 

The government scheme posted above is the only real way to go, as no mortgage lenders are doing 100% mortgages. The best we can do is 95% but only if you have a guarantor, otherwise is 90% maximum.

[GrannyGranny 10]

I woudld wait until you have a deposit saved up.

 

If you buy now you will be looking at negative equity from day 1.

 

Buy when the market begins to pick up.

[ukdobby 225]

I woudld wait until you have a deposit saved up.

 

If you buy now you will be looking at negative equity from day 1.

 

Buy when the market begins to pick up.

 

Buy when the market picks up?then you have allready missed the boat(no one knows when that will be)just buy when you feel its the right house and price for you regardless of what other people say.

[Grandad.Malky 11]

Anyone buying with a 100% mortgage must be bold or daft, every time you put the news on there is another financial crisis, as someone said you are looking at negative equity before you even start.

 

Obviously that’s not a problem if you stay in your home but with the current job situation how many can guarantee that.

[Square-Bashe 10]

I'd not recommend you consider these. At the moment they would be a foolish thing to get involved with unless you can really really afford it, in which case you would do no better than save up a deposit until you can get a 10%+ deposit and benefit from lower interest rates.

[GrannyGranny 10]

Buy when the market picks up?then you have allready missed the boat(no one knows when that will be)just buy when you feel its the right house and price for you regardless of what other people say.

 

That would be ok if the OP had a deposit.

 

Even if they could get a 100% mortgage there is no back up money incase the boiler packs up etc.

 

This may sound harsh but there are alot of home owners who bought on a 100% or 110% mortgage and their debt is now 125/130% of the value of their house and rising.

[Phylis 10]

100% mortgages just dont exist anymore. Try some of the shared ownership schemes. They are there to help people in your situation.

[Dronfielder 10]

I have got a no deposit scheme for first time buyers. PM me for details

[dirend 10]

I think with the shared equity schemes you don't require a deposit.

[Dronfielder 10]

Shared equity sometimes needs a deposit also