A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
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You can get a 2 bed semi new build with drive for two cars and good sized gardens for £115k round here. No one wants to live in Stoke anyway though.
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jr
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Registered: 20th May 02
Location: Kent
User status: Offline
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pricing is exactley what i got a 2 bed terrance in a village for on outskirts of maidstone for, they are out there 
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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quote:
Originally posted by Graham88
£113k mortgage? Wtf u gonna get for that?
a place in a shithole down south, or something in need of massive renovation.
of course i can only talk about the county i live in, which i know is expensive due to it's proximity to london 
can get a decent sized house in dagenham for cheap but then you need to live in a shithole.
you pays your money...
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fred7
Member
Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline
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Ive phoned yorkshire bank today and iam doing an application for a 95% mortgage. There ringing me within 2 business days. The interest is slightly higher but atleast its not dead money and im in my own house not like renting as i am now. They said the only problem i will have not been at my new work for long and im 27. They said for a 95% mortgage they like you to be over 30 and earning more than £30k i earn more than that but still only 27. I can only try anyway
[Edited on 11-06-2013 by fred7]
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A2H GO
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Registered: 14th Sep 04
Location: Stoke
User status: Offline
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How much you borrowing? Surely on £30k you can afford to rent for a few more months and save another 5%?
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fred7
Member
Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline
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£120k the application is for. We have been renting for years and need to get started on the property ladder. The houses by me are going up pretty quick because of all the new jobs been made here and the houses we can afford in the areas we want go very quick for rental
[Edited on 11-06-2013 by fred7]
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deano87
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Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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quote:
Originally posted by fred7
Ive phoned yorkshire bank today and iam doing an application for a 95% mortgage. There ringing me within 2 business days. The interest is slightly higher but atleast its not dead money and im in my own house not like renting as i am now. They said the only problem i will have not been at my new work for long and im 27. They said for a 95% mortgage they like you to be over 30 and earning more than £30k i earn more than that but still only 27. I can only try anyway
I'm hoping, although won't be till next year, that because you have to have the savings account open for some time with Nationwide that there is smaller qualifying criteria. I certainly wasn't made aware there was.
Basic principle was that if you are entitled to a mortgage with Nationwide and have this account, they'll give you 95% LTV.
But as you say, rates quite high.
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jr
Member
Registered: 20th May 02
Location: Kent
User status: Offline
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quote:
Originally posted by Ben G
quote:
Originally posted by Graham88
£113k mortgage? Wtf u gonna get for that?
a place in a shithole down south, or something in need of massive renovation.
we complety rewired, re plumbed, re floored and replasted our whole house and it still didnt come to that £££
i think its to easy for people to discount houses simply because it:
1) doesnt look like your parents house
2) doesnt look like a show home
I dont work in any trade but quite comfortable did the large majority to ours and our mortgage is under 100k now, and this is a quite kent village terraced house.
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fred7
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Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline
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Deano the rates are to you so they do change per person. The nationwide 1 is ok but ive learnt alot since opening the account. They should do more checks really before you get your hopes up and then realise you dont have a chance. It was an independent advisor i spoke to
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deano87
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Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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Graham88
Member
Registered: 16th Apr 07
Location: South East Kent Drives: E46 M3
User status: Offline
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Are these 95% mortgages quite easy to get now then? If they're quite readily available then it's quite tempting. Or is the interest so high it would be better to wait and save the other 5%? Baring in mind in the mean time I'm paying rent every month?
I was pretty much under the assumption it was 10% minimum unless it's all changed again recently without me knowing
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fred7
Member
Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline
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Theres very few companys that do straight forward 95% mortgages. Yorkshire BS is the biggest doing them as far as i can see without having savings account etc open for months. There hard to get and interest rate slightly higher for the fixed period then reverts to a half decent rate below 5%.
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deano87
Member
Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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5.86% or something like that with Nationwide.
Doing some number crunching using their online calculator only and a 10% deposit didn't make much difference.
What did was the term between 25 and 35 years. Well, not the interest rate but the monthly payment. About £90.
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A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
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You're better going for the longest possible term to bring the payments down and then overpaying by the difference (providing youre mortgage product allows it).
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fred7
Member
Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline
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If you have it over the longest term to get the payments cheaper then when the fixed rate ends change to a different provider?
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A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
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The options there but for the last few years the SVR's been lower than any of the fixed deals anyway.
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fred7
Member
Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline
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Ive had a call back about the 95% off yorkshire but didnt go through with the app. Im worried if it fails im fucked for 6 months to try for a 90%.
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A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
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Not really, it will only show as a footprint on your credit file, not whether you were accepted or declined.
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fred7
Member
Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline
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Just been to a new development by me and seen a 3 bed house with the new buy or help to buy which ever is the government 1. Thinking might be better going for that. Its a house we can stay in with room to extend etc. sitting down tomorrow about it
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