Is there any chanceI can get the whole mortgage without the deposit, when I am the frist house buyer in UK?
Answers:
Theoretically, yes. Some of the housebuilders have made that offer to get rid of new developments at specific times. However, not typically to first time buyers.
The question you should surely be asking is whether if you did manage to get a 100% mortgage would you be able to meet the mortgage repayments each month. And, in a climate of potential interest rate rises in the future, could you still afford the repayments if the interest rate rose say 0.5%? It's not just the first year of a mortgage you need think about, it's every year and every potential interest rate rise that you face over the lifetime of the loan.
Can you honestly say that your income can withstand say a 1% mortgage rate increase were if to happen within the first three years of a mortgage? It's that kind of scenario that a mortgage interest advisor can talk through with you. Independent financial advice is necessary prior to undertaking the largest financial transaction of your life, surely? Why not go speak with an independent financial adviser, who's not attached to a particular bank/building society or a particular housebuilder, and ask their opinion or whether what you're asking is (a) possible and (b) sustainable over the longer term.
That will depend on your financial situation and history - but yes you can. Do a search on the internet and talk to a broker.
You'll get shafted on rates and interest though,
You can, but you get huge rate of interest
Worth talking to Nationwide
Which? Magazine rates them highly
Check the Which? website
adn www.bbc.co.uk/radio4 and look for "Money Box" - good sources of advice
You may wish to speak with a housing counsellor. Try one of these free services available through UK charities.
yes ask about 100% mortgages
you will end up with the longest mortgage you could ever imagine with the highest interst rates.. personally I wouldnt go there unless you are intending on popping your clogs before you finish paying for it.
There are many companys offering 100% mortgage and i have even seen one offering 125% to help provide money for other things..but make sure you only deal with a well known reputable name.dont be tempted to deal with unknowns just because they appear to have a good offer.as long as your credit rating is ok many big companys will give you what you are looking for
yes its called a 100% mortgage northen rock are good for these
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