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iam frm india and going for a masters degree in US, iam not taking a accomadation that the uni is providing, so pls tell me detailes the cost of living
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Princess | Has anyone been approved for mortgages recently in the UK? |
Is it still possible for first time buyers with a 10% ish deposit? |
 |
 
C Maldini
 |
being approved isn't an issue most people will still get a mortgage but the deposit will be a big factor ranging from 10% to 40% deposit through out the UK I know where i live in Lanarkshire just outside Glasgow it's round about 10% to 15% deposit and house prices in Scotland are cheaper that England because we are less densely populated. |
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soft girl
 |
no |
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van frank
|
5% deposit still ok but the interest rate may be very high...but there are always exceptions...shop hard be my advice....or wait 12months if possible...which i am gonna try do |
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Scared
|
yes ,friend of mine |
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asseenfromoutside
|
A quick look on the net gives me the impression that you can. |
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gem
 |
I did last week, was a agreement in principle they called. im a first time buyer though, and they love the fact that im not in a chain lol |
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?
 |
A bigger issue than the deposit will be you ability to repay the loan , ie your job security , civil servants being a safer bet than construction workers , for an example |
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Ed
|
It is possible, but terms are less favourable. With inflated house prices and a difficulty in getting a mortgage, it pays to have a much bigger deposit. This makes it less likely you will lose your home if you default, and more likely you will be approved. Though with a 10% deposit now amounting to close to £20,000 in some areas, saving even more is a tall order.
It is high time the salary multiple lenders are allowed to lend was capped so prices are driven down to an affordable level. |
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Phil B
|
Maybe the question should be is now a suitable time for a first time buyer to buy? Why risk negative equity on a property market almost certainly going down for some months/years. If you put down 20k on a 200k house, you only need a 10% fall in prices to loose all of your money. A 20% fall means you will be paying off another 20k to the bank even if you sold for full market value. Rent a while, save a big deposit. |
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sideshow george
|
I've been to see an independent advisor today, should hear tomorrow if i've been approved. Mortgages are still been issued but some with higher fees.
I recommend going to see an advisor, your local estate agent should be able to put you in touch with an independent one. they usually work on commission from the lenders so you don't actually pay them their fees.
Hope that helps. |
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dels replies
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Very few and unlikely. 40 to 50 % deposits required. Virtually no first time buyers now. |
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