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View Full Version : Does anyone have a 100%/ no deposit mortgage??



stardust
09-02-2012, 08:14 PM
I have found the most perfect house, up for sale 2 mins down the road from me it has a playroom, kitchen diner, downstairs loo, massive enclosed garden with decking area. A garage to keep the other half happy and 5 bedrooms! Okay so i only need 2 but i can have a sensory/sleep room and a office/play room for ds and a spare room for when people stay over! Its massive and I would be able to have an assistant and double my numbers.
I really want it but I am currently renting and what would have been my deposit has been swallowed up when oh was made redundant a week after I went on maternity leave. We pay £700 now in rent and could manage £1000 in mortgage and would be able to rent the attic room if needed.
Other half has only been back in his job for 8 months and I have been self employed for 5 months.
I know they will ask for 3 years of wage slips ect and they are funny about giving out mortgages atm but we could afford it and with an assistant, I have 4 families wanting space in the next few months so could easily fill the spaces.

Anyway moan over I wanted to know if anyone had a 100% mortgage?
What they had asked for - evidence wise
Roughly how much are you paying- if you don't mind saying?
What was the maximum they would let you have?

I know my chances are slim but if you don't ask you don't get and the worse they can say is no.

Thanks in advance
Tara xx

Pixie dust
09-02-2012, 09:09 PM
You will be really lucky if anyone will give you a 100% with the current climate we got one in 2007 and it was for £160,000 and we currently pay just under a £1,000 a month. At the time I was in full time employment I am not sure how it would work being self employed.

stardust
09-02-2012, 09:24 PM
You will be really lucky if anyone will give you a 100% with the current climate we got one in 2007 and it was for £160,000 and we currently pay just under a £1,000 a month. At the time I was in full time employment I am not sure how it would work being self employed.

I know i'm thinking its a big no no. I didn't even think they were possible but oh's bank sent him a letter about helping first time buyers ect.
I might just book in with a few mortgage advisers and would out a 3 year projection based on the children I have/ spaces ect and see if that is enough.