Seany
Member
Registered: 13th Dec 06
Location: Dunfermline, Fife : Drives Astra cdti Sri
User status: Offline
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Right im after the highest percent mortgage going, as close to the 100% as possible.
anybody got any good banks/broker for me to check out?
I really cant be bothered waiting to save up £17,000 to put a 10% deposit down.
im on a good wage so im more than capable of making the payments, just can't save
cheers seany 
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AndyKent
Member
Registered: 3rd Sep 05
User status: Offline
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Save, its easier and far cheaper in the long run.
Or find something cheaper.
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Loyds TSB are doing 95% LTV. I dont think you'll do any better than that.
TBH I wouldnt be wanting to take 100%, not on afordability more on worst case scenario of the value taking another dip & you having to sell. Nasty thought. Probably will never happen but it would suck to be caught out!!
I certainly wouldnt be looking to buy a 170k house with nothing to put down. My 2nd home didnt cost that & I had 20% deposit & combined wage was easilly enough to borrow a lot more than what we did.
I'd save up £1k a month for 12 months, this will get you used to the costs associated with owning a house, & save you up a 10% deposit for something around £120k.
[Edited on 13-02-2010 by Colin]
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corsa_godfather
Member
Registered: 6th May 03
Location: Greenock,Scotland
User status: Offline
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im currently saving for a deposit just now.
got 20 odd months and im putting away 1k a month minimum.
really need a good deposit these days or you dont get a decent interest rate
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corsa-sxi
Member
Registered: 11th Jul 03
Location: Kingston upon Hull
User status: Offline
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it would be nice to earn 1k a mnth lol
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Seany
Member
Registered: 13th Dec 06
Location: Dunfermline, Fife : Drives Astra cdti Sri
User status: Offline
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realisticly i could save the deposit in just over a year, however that means no fun to be had what so ever, and a year is a bloody long time.
I have just seen an almost identical house in a different area for £40,000 less, so may be worth a shout
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Online
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quote:
Originally posted by Seany
that means no fun to be had what so ever, and a year is a bloody long time.
Welcome to home ownership.
You're going to be spending less when you have the house, so you may as well put yourself in that position before you have it.
If you look at the maths, you wouldn't do anything else. You get better interest rates just because you save - it's more than just being able to be given the particular mortgage.
When you do the maths, it's fairly shocking how much difference a few % will make over 25/30 years. You are talking about paying back 50k or more just because you didn't save 10k now.
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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quote:
Originally posted by Seany
realisticly i could save the deposit in just over a year, however that means no fun to be had what so ever, and a year is a bloody long time.
I have just seen an almost identical house in a different area for £40,000 less, so may be worth a shout
You might aswell see how it feels having £1K+ a month going towards something thats not 'fun' before you commit to doing so for a very long time.
I'd get saving!!
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