Discussion
Just wondering if anyone knows of anyone other than Nationwide offering a "true" 95% mortgage?
Myself and my partner have recently move back in with parents to put together a deposit and a house that we know well has become available for sale. It is our dream 1st home. We had always based our figures on a minimum 10% deposit but this house becoming available has made us consider this option. Nationwide offer a first buy scheme of a genuine 95% mortgage as long as you bank at leads £50 a month for 6 months. Having just opened an account the earliest we could apply for the mortgage is October. We have the available funds to cover a 5% deposit plus all required fees. I have looked at other lenders but it seems most require 5% and then in most cases a family member of guarantor to put in the region of 25% extra!!!
Any ideas or recent experiences would be very interesting to hear.
Thanks.
Myself and my partner have recently move back in with parents to put together a deposit and a house that we know well has become available for sale. It is our dream 1st home. We had always based our figures on a minimum 10% deposit but this house becoming available has made us consider this option. Nationwide offer a first buy scheme of a genuine 95% mortgage as long as you bank at leads £50 a month for 6 months. Having just opened an account the earliest we could apply for the mortgage is October. We have the available funds to cover a 5% deposit plus all required fees. I have looked at other lenders but it seems most require 5% and then in most cases a family member of guarantor to put in the region of 25% extra!!!
Any ideas or recent experiences would be very interesting to hear.
Thanks.
Tjw85 said:
Just wondering if anyone knows of anyone other than Nationwide offering a "true" 95% mortgage?
Myself and my partner have recently move back in with parents to put together a deposit and a house that we know well has become available for sale. It is our dream 1st home. We had always based our figures on a minimum 10% deposit but this house becoming available has made us consider this option. Nationwide offer a first buy scheme of a genuine 95% mortgage as long as you bank at leads £50 a month for 6 months. Having just opened an account the earliest we could apply for the mortgage is October. We have the available funds to cover a 5% deposit plus all required fees. I have looked at other lenders but it seems most require 5% and then in most cases a family member of guarantor to put in the region of 25% extra!!!
Any ideas or recent experiences would be very interesting to hear.
Thanks.
I can help with this, drop me a PM/email Myself and my partner have recently move back in with parents to put together a deposit and a house that we know well has become available for sale. It is our dream 1st home. We had always based our figures on a minimum 10% deposit but this house becoming available has made us consider this option. Nationwide offer a first buy scheme of a genuine 95% mortgage as long as you bank at leads £50 a month for 6 months. Having just opened an account the earliest we could apply for the mortgage is October. We have the available funds to cover a 5% deposit plus all required fees. I have looked at other lenders but it seems most require 5% and then in most cases a family member of guarantor to put in the region of 25% extra!!!
Any ideas or recent experiences would be very interesting to hear.
Thanks.
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