Are there any mortgage companys that DONT want a 10% deposit??

[isheisnthe]

Just that really - we want to move,have seen a new house that we would like, but after working out moving costs we would only have a16k deposit - new house is 225.

TIA

Think Halifax are doing a 95% mortgage. Don't know what the rates are on that, wouldn't have thought they would be good though.

Lloyds have a 95% mortgage at 4.99% for first time buyers on moneysupermarket.com.

I reckon you might struggle.

I have a mortgage with the Abbey already think i'm just going to have to suck it up and stay where I am for the 18 months left to run on this deal - hopefully by then the housing market will have moved a bit more to give us some more equity

Why on earth would you want to max out with a mortgage in this financial climate?

tbh if you're trading up to a more expensive property you should hope prices fall. Then the more expensive property will drop by roughly the same propertion as the cheaper, usually, which is more overall.

Definitely not a good idea to max out a mortgage atm. Interest rates can only go in 1 direction and a lot of people think the miniboom is because of limited supply and incredibly low interest rates. If the rates go up and a lot of people are forced to sell the correction/negative equity could be nasty.

I had to move out of the catchment area for my sons schools when I split up with their dad - I am in shared ownership at the moment in not the nicest of areas and I want to move back towards their schools so they can be nearer their friends - we are currently affording to save around 1k a month - so it really isnt maxing out for us - it is using money that we have available each month in order to live where we want to - I have "lost" around 21k in equity in this house as I moved in 2007, so I figure what I have lost anything else will have - and what ever the house goes up by so will the next house.

If you are saving £1k a month, why don't you hold off for 6 months or so until you have enough money to put down a deposit of 10%?

thats what I think we will do, DH is keen to move more than me - I am happy to stay for the next year to 18 months... you know what men are like!

DP is the total opposite. Wants to buy a car rather than put money towards a deposit for our first house. Pillock.

You can try in the meantime to make over payments on your mortgage so you can reduce it and hopefully increase the equity for when you do move.

you'll be lucky! we have just been to seen a IFA last week and were told we'd need at least a 15% deposit for a house of £150k, so I'm not sure where you'd stand in your situation if you're after a house at £225.

I was also told by IFA that 100% mortgages are just not happening either. It's a sign of the times, unfortunately. If you want a bigger place, you need a hefty deposit.