Can a couple get a 100% mortgage for approx £180,000 - £200,000 with a combined income of nearly £50,000 a year?
2006-08-08 02:39:25 · 6 answers · asked by Anonymous in Home & Garden ➔ Other - Home & Garden
I think you will be lucky. See if a mortgage broker will give you free general advice.
You'd also have fees (solicitor, search, arrangement etc,) and stamp duty to pay so you need some capital.
2006-08-08 02:44:22 · answer #1 · answered by Storm Rider 4 · 0⤊ 0⤋
I think you'll be struggling to get a mortgage for that amount as most lenders only lend 2.5 to 3 times total salary.
100% mortgages are not that common and you pay extra interest so if you can get a deposit of 5% together it really would help.
Nationwide are very good for first time buyers as they tend not to use the salary multiplier but use your ability to pay back the loan but they do not do 100% mortgages.
2006-08-08 09:44:29 · answer #2 · answered by Steve C 4 · 0⤊ 0⤋
It might be a bit of a stretch for a 100% mortgage.
You should go and see an independent financial adviser. When I bought my flat I saw Alexander Hall, they only charge you when you apply for a mortgage, the consultations are free.
2006-08-08 11:58:51 · answer #3 · answered by Gaz 2 · 0⤊ 0⤋
100%... I remember that Northern Rock offered 100% mortgages. It could be worth checking out. You can apply only.... I don't think it would be a problem.
Its said to be 3.5 X your salary, but when I applied they offered me more. (Well not northern rock, but elsewhere... so I don't think it would be a problem)
2006-08-11 18:29:01 · answer #4 · answered by Little Red 2 · 0⤊ 0⤋
yes very easily check with your lender
2006-08-09 08:26:11 · answer #5 · answered by Anonymous · 0⤊ 0⤋
There may be something of use here.
2006-08-12 03:02:36 · answer #6 · answered by Anonymous · 0⤊ 0⤋