Mortgage Forums Arrow Image Mortgage News Arrow Image

100% Mortgages almost obsolete in UK

Shared by Larry on Thu Jul 03, 2008 5:12 am

If you've ever thought of buying a home with a 100% mortgage, I'm afraid you'll have to drop the idea. Home buying in the UK will almost be difficult without any decent savings to pay for the down payment. What I mean is, 100% mortgages are now almost obsolete in the UK as home prices have been falling. And the best deals are now available for those who can put down 25% of the home price.

Source: http://www.fool.co.uk/news/property-home/mortgages/2008/07/02/the-death-of-the-100-mortgage.aspx
image
Community Members Opinion
Mini Profile  blue
blue
Joined: 21 Oct 2005


Posts: 1138
Location: MARYLAND

137.84 Dollars($)

PostPosted: Fri Jul 04, 2008 6:43 am    Post subject:

Hello Larry

Not only in UK but in USA also it is hard to get 100 percent financing. Although with FHA you can get 97 percent of the LTV but with the credit crunch and the declining financial market lending criteria have been tightened. So good credit is very much necessary to get a mortgage loan but it is true that home prices are low now. So the people who were thinking whether they should buy house or not even if they have good income, it is good time to buy.

_________________
Lets help each other. Try my blog
image
Page 1 of 1

 
Highlights
Helpful References
Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Calculators     [View all]
Are you eligible for loan?
How much you can afford?
Calculate monthly payment
Calculate APR


Financial Tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool


Our Community
MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards
Five simple ways to earn money with the Mortgage Community.

MortgageFit Live Help

Explore the lender near you

Google Map Image

MF Talk



DebtConsolidationCare    Insurance community: We Make You Insurance Smart    CreditMagic: Helping you build up credit


We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0