We have a mortgage offer!

[AngryFeet]

Thank god! It has taken 7 weeks but we finally got there :) All being well we will finally have our first home soon. I cant believe how hard it is to get a mortgage now even with a 10% deposit. A couple of lenders said 10% was not enough for first time buyers. We are very lucky that our parents are welloff enough to have helped us out. God knows how anyone manages it now without help :(

Excellent news! Have you already found a property, or does that mean you can now start house hunting?

Yes we have had an offer accepted on this and are nearing the end of the whole process. Just waiting for survey report and report from solicitors with results of survey, queries etc. So at this point it could technically still go horribly wrong if there are issues. Fingers crossed! Can't wait to get in there and start ripping out the 70's decor! It is just around the corner from a great secondary and is only a mile or so from where we are now so the kids can stay at their primary school. Not much else on the market in that area now so really hoping it all goes through!

Congratulations! It's a relief when it lands on the doorstep, isn't it?

We were lucky to get a 95% mortgage with no hassle, but I think that was just a good find on my part. No fees of any sort and cashback on completion too!

Looks great. It'll keep you busy for a while! Enjoy your new home

Congratulations! That house has so much potential and I love the garden. I do wonder though why they didn't tidy the kitchen!

Gorgeous garden! Lucky you!

The guy who owns it is a bit of a character Ladykookoo. The place was pretty messy when we viewed it too. There were pictures stuck in random places of a lady who turns out to be his wife who died in the house 18 months ago :(

DragonMamma - can I ask where you got such a great deal?

Lovely garden, lucky you.

Moggiek I too have had a 95% mortgage approved and it was with the nationwide. You have to hold a save to buy savings account with them for a minimum of 6 months and min deposit of £50 per month. You can then apply for the 95% mortgages. Squeaky clean credit rating required though. If you have £10k in the save to buy at full application they will also give you £1000 cash back after completion. Good luck.

Notthereyet can I ask what interest rate you got on that please? We have seen a house we like, have 5% mortgage but not 10%! Maybe this could be an option for us.

Moggiek I too have had a 95% mortgage approved and it was with the nationwide. You have to hold a save to buy savings account with them for a minimum of 6 months and min deposit of £50 per month. You can then apply for the 95% mortgages. Squeaky clean credit rating required though. If you have £10k in the save to buy at full application they will also give you £1000 cash back after completion. Good luck.

Alllwant85 we got it at 5.49%. It is high but with such a small deposit not many products on the market. The repayments are still less than our rent. You will need to have had the save to buy account for at least 6 months

Still 5.49% isn't bad when I'm currently on 4.79% SVR. It's a shame you have to have the account with them as we've :)been regularly saving for over 6 months. Will definitely look into it though, thank you.

Random smiley should have been at the end!! :)

Alas, have just seen that the offer is only available for first time buyers. :(

Many thanks for the info Notyet!

Alllwant85 I think at the end of last year the offer was extended to others who are not first time buyers. I could be wrong though.

m.guardian.co.uk/money/2012/dec/31/mortgages-nationwide

This link shows that you can also get it. Good luck

Thank you for the link, maybe it's a possibly for us afterall. :)

Sorry for the late reply - ours is with Newcastle BS. Higher rate but still cheaper than renting.