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lambsbrothersmatesnephew Posted on 04/12/2009 19:47
More financial (mortgage) help required

Can anyone answer this?
Is it possible to get a mortgage with a 5k loan as your only debt, and no deposit?

If so, where?!?!

onthemap Posted on 04/12/2009 19:55
More financial (mortgage) help required

No deposit is a problem.

piston_broke Posted on 04/12/2009 19:58
More financial (mortgage) help required

It would depend on ...
1, Your Earnings
2, The amount you wish to borrow.
3, Your job security.
4, How much you put in a brown envelope and give to the bank manager (B Clough style) [:D]

junouk Posted on 05/12/2009 12:26
More financial (mortgage) help required

Getting a mortgage is dependent on your provable income, deposit and credit rating.

Very few mortagegs around at over 85% (15% deposit) and anything over 80% the rates are very high. so your affordability would be the key.

MAD_POG Posted on 05/12/2009 12:39
More financial (mortgage) help required

90% deal of 4.79% now available via brokers.

Loan question is a tricky one.

In theory no problem with having a loan payment to cover the deposit, but it may count against you on credit scoring and more importantly it is another outgoing to consider when you move in.

LoveLoveMido Posted on 05/12/2009 13:00
More financial (mortgage) help required

Juno / Otm

I am thinking of buying a run down property as an investment, do it up, and sell on .... I have done my budget ect and confident i can make few quid

I would be putting down 10% as a deposit for the mortgage, and my the mortgage I am asking would only be double my annual salary. Obviously I dont want anything which has penalty clauses for paying back early, as I recckon on only having the mortgage for 3-6 months

What do you recommend?