Nationwide mortgage saving scheme (part 2) Found 95% LTV!!! - Corsa Sport - for Vauxhall and Opel Corsa B, Corsa C and Corsa D

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fred7

Member

Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline

29th May 13 at 15:06

Just wondered if anyone has actually been offered a % they need for a deposit yet as its upto 5%? How they work out if you can have 5% etc?

(Opened this thread because different to my other 1)

[Edited on 08-06-2013 by fred7]

deano87

Member

Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline

29th May 13 at 21:12

No, we're not going for ours until next year if we do a traditional mortgage like that.

Currently planning to go to an open Taylor Wimpey event at a local development. Next Tuesday 5pm till 8pm regarding Help to Buy.

Gavin

Premium Member

Registered: 3rd Apr 02
Location: West Midlands
User status: Offline

30th May 13 at 15:33

I'm going to go in tomorrow and sign up. Guess it will be 6 months before I can answer your question lol

pew pew pew pewwwww

fred7

Member

Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline

30th May 13 at 19:07

Lol. I posted ny first 1 about 6 months ago so thought i would ask if anyone to do it. Cant wait to actually try still saving myself

Gavin

Premium Member

Registered: 3rd Apr 02
Location: West Midlands
User status: Offline

31st May 13 at 13:47

Well I've just signed up to it and have a grand total of 200 notes in there. Got a way to go if I want to buy a house mid next year

Will be interesting to pull this thread back up in 12 months time and see whether this scheme actually pays off

pew pew pew pewwwww

A2H GO

Member

Registered: 14th Sep 04
Location: Stoke
User status: Offline

31st May 13 at 15:32

We saved £30k in 12 months, but that was two of us, are you saving on your own?

Gavin

Premium Member

Registered: 3rd Apr 02
Location: West Midlands
User status: Offline

1st Jun 13 at 08:11

I am yeah - looking to save at least 1k a month and see what I can get this time next year and what rates are on offer. Then make a decision on whether to buy or to continue saving

£30k between two in 12 months is pretty impressive!!!

[Edited on 01-06-2013 by Gavin]

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Russ

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Registered: 14th Mar 04
Location: Armchair
User status: Offline

1st Jun 13 at 09:19

gavin gambles 30k a year easy

Graham88

Member

Registered: 16th Apr 07
Location: South East Kent Drives: E46 M3
User status: Offline

1st Jun 13 at 10:03

30k in a year Jesus, you must have lived like hermits

Gavin

Premium Member

Registered: 3rd Apr 02
Location: West Midlands
User status: Offline

1st Jun 13 at 21:50

quote:
Originally posted by Russ
gavin gambles 30k a year easy

ha ha haaa

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Gavin

Premium Member

Registered: 3rd Apr 02
Location: West Midlands
User status: Offline

1st Jun 13 at 21:51

then again, I could buy a 4-bed house in Wolverhampton with a tenner. Wanna go halves Russ ;-)

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A2H GO

Member

Registered: 14th Sep 04
Location: Stoke
User status: Offline

3rd Jun 13 at 11:19

quote:
Originally posted by Graham88
30k in a year Jesus, you must have lived like hermits

Pretty much said goodbye to our social lifes.

We kept £400 a month each to live on, fuel etc, put money for the bills and rent into the joint and whatever was left went in the ISA's until they were full then the savings.

Had the mortgage offer through on Friday, never gone from having so much money to so little so quickly.

Ian W

Member

Registered: 8th Nov 03
Location: Wirral, Merseyside
User status: Offline

3rd Jun 13 at 12:41

quote:
Originally posted by A2H GO

quote:
Originally posted by Graham88
30k in a year Jesus, you must have lived like hermits

Pretty much said goodbye to our social lifes.

We kept £400 a month each to live on, fuel etc, put money for the bills and rent into the joint and whatever was left went in the ISA's until they were full then the savings.

Had the mortgage offer through on Friday, never gone from having so much money to so little so quickly.

This is what I am in the process of now.

Moved back to my parents in January and I save as much as possible every month.

It's very boring but will be worth it in the end

A2H GO

Member

Registered: 14th Sep 04
Location: Stoke
User status: Offline

3rd Jun 13 at 12:51

We found the key was to make sure you still give yourself a night out at least once a month, just go out for a meal or cinema or something.

We would have carried on saving but we started looking and the right house came up at the right price.

Also shop around for the mortgage, we ended up finding a deal that was £60-70pm less than the cheapest of the well known high street lenders and had no arrangement fee (most were £1000+) and no valuation fee.

Gavin

Premium Member

Registered: 3rd Apr 02
Location: West Midlands
User status: Offline

3rd Jun 13 at 17:30

did you use the "supermarket.coms" for shop around and find a better offer?

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A2H GO

Member

Registered: 14th Sep 04
Location: Stoke
User status: Offline

4th Jun 13 at 08:43

Used all the comparison sites but found it better literally just going to the lenders websites.

[Edited on 04-06-2013 by A2H GO]

fred7

Member

Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline

8th Jun 13 at 13:57

ive found a few building societies that will offer 95% LTV so only needing 5% deposit. but how come these are broadcasted off the roof tops sure? am I missing something somewhere? theres Yorkshire bank which is the best known and local bank for me which do them without opening an account for 6 months etc??

A2H GO

Member

Registered: 14th Sep 04
Location: Stoke
User status: Offline

8th Jun 13 at 16:15

Usually high interest rates and have to be squeaky clean to get accepted, tougher affordability criteria etc.

fred7

Member

Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline

8th Jun 13 at 20:08

The interest is higher for 3 years at 5.34 but surely a decent option instead of the government thing owing them x amount in 5 years. Going for a appointment in the week

fred7

Member

Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline

8th Jun 13 at 20:09

When you say squeaky clean do you just mean ccjs and missed payments etc? Ive got none and a credit rating of 901 only thing against me on checkmyfile.com is my age at 27?

deano87

Member

Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline

10th Jun 13 at 19:43

If you have a good history paying on time etc you should be ok.

But yeah, I'm thinking the interest rate will be better than going for 20% less share in the property (see my last thread on Help to Buy).

We worked out on a mortgage of about £113,500 we'd be paying circa £650 per month mortgage. If you do it over 35 years it is better but you can always remortgage for a shorter time. But that is easier typed than done

[Edited on 10-06-2013 by deano87]

deano87

Member

Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline

10th Jun 13 at 19:47

I just did the same £113,500 mortgage over 35 years and it reduces the monthly repayments by £90!

Graham88

Member

Registered: 16th Apr 07
Location: South East Kent Drives: E46 M3
User status: Offline

10th Jun 13 at 21:28

£113k mortgage? Wtf u gonna get for that?

Kyle T

Premium Member