Bonney
Member
Registered: 14th Nov 04
Location: St Helens
User status: Offline
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Seen a house for sale near where I live, Its a 2 bed house with front, rear and a bit of a side garden. which has just had a new kitchen, bathroom and carpets throughout, just needs a little bit of decorating inside for what seems to be a cheap price. (Around the £65k mark)
Before I go into the bank to see about a mortgage, Was wandering what the banks were offering first time buyers, and what amount of deposit would need to be put down if any!
Don't want to arrange a viewing before I know what mortgage i can get for it!
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IvIarkgraham
Premium Member
Registered: 27th Mar 04
Location: Ellesmere Port, Cheshire
User status: Offline
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10% deposit usually
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Cavey
Member
Registered: 11th Nov 02
Location: Derby
User status: Offline
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bigger the deposit, the better the rates you'll get too
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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nationwide are doing a 5% deposit mortgage at the moment.
i had to have 10% deposit for a 6.05% mortgage.
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antscorsa
Member
Registered: 11th Aug 02
Location: london
User status: Offline
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65k for a 2 bed house, jeez that wouldnt buy me a garage in kent! truly gutting!
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antscorsa
Member
Registered: 11th Aug 02
Location: london
User status: Offline
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Also try the post office there meant to be good for first time buyers with a 10% deposit and rates around 5% if i can remember! might be wrong but worth checking out
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Bonney
Member
Registered: 14th Nov 04
Location: St Helens
User status: Offline
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Not as bad as i first thought.
I was estimating for around the 20 - 25% deposit.
May nip into the bank tomorrow to get a guide price so i could shop around and try to do a bit of price matching.
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AndyKent
Member
Registered: 3rd Sep 05
User status: Offline
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I got 4% with First Direct on a 15% deposit.
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SXIBLK
Member
Registered: 9th Feb 10
Location: Barnoldswick
User status: Offline
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with a 10% deposit i got 5.29% i think with santander
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Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
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quote:
Originally posted by Bonney
Seen a house for sale near where I live, Its a 2 bed house with front, rear and a bit of a side garden. which has just had a new kitchen, bathroom and carpets throughout, just needs a little bit of decorating inside for what seems to be a cheap price. (Around the £65k mark)
Before I go into the bank to see about a mortgage, Was wandering what the banks were offering first time buyers, and what amount of deposit would need to be put down if any!
Don't want to arrange a viewing before I know what mortgage i can get for it!
Normally when you arrange to view a house the estate agent will ask you what your financial position is, and more often than not they will have mortgage advisers/brokers that can help you get a mortgage (although they get a referral fee from the mortgage company they put you forward to so it's always best to shop around).
They were saying on the news that 95% mortgages are getting easier to obtain now that lenders are being made to lend more money to people again.
You will have a higher chance of being accepted for a mortgage if you have a bigger deposit though.
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Baskey
Member
Registered: 31st May 06
User status: Offline
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There are a few 10% even 5% deposit deals arround however they are quite expensive. If you can get 15/20% deposit you should be able to get a much better rate. Go on moneysupermarket and use there calculators to work out what it will cost.
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dannymccann
Member
Registered: 9th Aug 06
Location: Doddington, Lincolnshire
User status: Offline
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quote:
Originally posted by AndyKent
I got 4% with First Direct on a 15% deposit.
That's excellent, we got 4.69% on 25%!
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AndyKent
Member
Registered: 3rd Sep 05
User status: Offline
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You got yours a bit before me though I guess, that was the best deal last October.
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John
Member
Registered: 30th Jun 03
User status: Offline
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4.9 with 10% was the best I could do a couple of months ago.
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dannymccann
Member
Registered: 9th Aug 06
Location: Doddington, Lincolnshire
User status: Offline
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Yea mine was a 2 year fix from March 2010...although we were severely limited (literally to just Halifax) as we are on one of those builder funded deposit things and only Halifax was doing them at the time, if we had had a 'normal' 25% deposit I'd like to think even back then we could have hit 4%
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Jed D
Member
Registered: 15th Mar 11
Location: Durham
User status: Offline
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i seen a decent 5 bedroom with big drive, garage, rear garden and up and downstairs toilet going for 65k. not too bad of an area. would love to get on the ladder
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AndyKent
Member
Registered: 3rd Sep 05
User status: Offline
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5 bed for £65k 
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dannymccann
Member
Registered: 9th Aug 06
Location: Doddington, Lincolnshire
User status: Offline
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Jeddy you lie, its in a dog shit area, Lynny is from Durham as well and she said you couldnt pay her to live in the area you found that house
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dan_m1les
Member
Registered: 8th May 06
Location: Burnham, Buckinghamshire
User status: Offline
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This is a joke surely, if wanted a house round here, even in the ghetto down the road its £180k for a 2 bed semi!
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pow
Premium Member
Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
User status: Offline
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quote:
Originally posted by dan_m1les
This is a joke surely, if wanted a house round here, even in the ghetto down the road its £180k for a 2 bed semi!
THIS
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Jambo
Member
Registered: 8th Sep 01
Location: Maidenhead, Drives: VXR Arctic
User status: Offline
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quote:
Originally posted by pow
quote:
Originally posted by dan_m1les
This is a joke surely, if wanted a house round here, even in the ghetto down the road its £180k for a 2 bed semi!
THIS
Hence why i live with my folks still 
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Jambo
Member
Registered: 8th Sep 01
Location: Maidenhead, Drives: VXR Arctic
User status: Offline
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180k is for a real cheap one too! £160k for a dodgy maisonette.
My sisd paid £240k for a pokey new build flat in an "ok" area.
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Hammer
Member
Registered: 11th Feb 04
User status: Offline
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This 'debate' comes up every time there is a mortgage thread
It is all relative, if there's a cheap house then it is in a bad area or is in a poor state or there are no jobs in the area or some other reason. If there's an expensive house then it must be in a good, desirable area or is a quality house or is in a town were there are high paying jobs or some other reason.
Houses aren't cheap or expensive by chance, the market dictated the value.
[Edited on 14-06-2011 by Hammer]
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ed
Member
Registered: 10th Sep 03
User status: Offline
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Move to the midlands. Best of both worlds 
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adiohead
Member
Registered: 28th Sep 01
User status: Offline
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You're looking at 200-250k for a small house around here.
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