LagosismyHome:


That must be those days, over 10 years if not more ..... I doubt if any bank does 0% deposit. Does mortgage doesnt exist anymore ??

LagosismyHome:


Selling a house is not even as easy as saying I want to offload tomorrow..... u can even try to sell and the house will be in the market for months..in recent times some properties are been reduced in order to sell meaning negative equity . However Yes I take owning more than renting any day .

But ok.

Success story is good as long as the person is aware of the pros and cons. Everyone should ensure they have a clear picture before they jump .

Lexusgs430:




GONE WITH THE WIND...... The good old days of sub prime mortgage sector....... If you know...... You know........

erico2k2:

come o n Bro why are you tlking like this,?
How on earth are you going to get a Mortgage with financial history of even 3 years?even with a history of 5 to 7 years the Deposit will be minimum of at least 30% people born here who applied for mortgage as 1st time buyers get up to 25%\ and for the govt helpto buy scheame thats another fraud on thier part, its a long thing,you are going to drop at least 15% of that and you are buying a % of the mortgage.
Leasing a car is very expenssive, the cast majority of young people in the UK who lease live with their parents, or are living rent free.
Talking about sell off, well Lexus Im not being rude but if you own your House ie mortgage you will know that there are clause bonding you to the agreement of remortgaging your house for XY years, its meanimum of 3 years in most cases.The reality on ground is harsher than tall buildings and fine environments!

LagosismyHome:


That must be those days, over 10 years if not more ..... I doubt if any bank does 0% deposit.

Does that mortgage package exist anymore ??

erico2k2:

Bross do not say that ohh, its an OLD SCOOL BANK

RalphJean:


Please Oga Lexus, help with the answer to the bolded.
I have been here for 4 years now.
I thought I don’t have enough history to get a mortgage. Appears I was wrong. Yes? No?

Bourne007:
Still on this matter . You don't seem to get it, do you?

erico2k2:

Listen to me, your best bet is to go fru a Broker, thank me later,There is a lot that goes on in the baground..You need to speak to a broker.
regarding help to buy, it is not for everyone, you must be a keyworker.best way to know is if you are working during this covid period.

LagosismyHome:


Exactly so talking about that kind mortgage no need na.... it doesn't EXIST anymore

Lexusgs430:



Options available to you...........


Broker to patch shortfalls (that 1% fee is worth it's weight in gold).......

Get a bank loan......... (don't over stretch)

Joint mortgage + joint source of funds.....

Do asusu with a sizeable drop........ Etc etc etc

Lexusgs430:



Remember, according to our case study here today...... He only got 18 months in the UK.......

How was his mortgage approved?......

Bourne007:
Completely false. Everyone is eligible as long as you meet the requirements

erico2k2:

if you got no atom os sarcasm in you just pass my post, can U see frm waht i wrote that Im taking the biscuit cos he has to go to the so-called OLD school bank for mortgage and not the new online one, bro take a chill Pill pls!

Lexusgs430:



Options available to you...........


Broker to patch shortfalls (that 1% fee is worth it's weight in gold).......

Get a bank loan......... (don't over stretch)

Joint mortgage + joint source of funds.....

Do asusu with a sizeable drop........ Etc etc etc

erico2k2:

These are the kind of statements I don't like, you are more than welcome to air ur own view rather that list someone else one as false.
Since you are the champ here let me ask, what do you think in ur i nfinit wisdom makes someone eligiable for a mortgage??

TRAY2:


I went through halifax.. it was 85% LTV.. I showed 3 months of payslip that showed steady and consistent income including Over times and enhancements, i made sure i built a good credit score, no loans no missed payments. For the person advising using a broker. I was just so lucky. I just thought it was worth trying and it worked.

Bourne007:
@the bolded. Help to buy is not just for keyworkers but for everyone

deept:


Is help to buy not public funds?

TRAY2:


I went through halifax.. it was 85% LTV.. I showed 3 months of payslip that showed steady and consistent income including Over times and enhancements, i made sure i built a good credit score, no loans no missed payments. For the person advising using a broker. I was just so lucky. I just thought it was worth trying and it worked.

RalphJean:



Biko, by going direct, what does that mean please? I have always thought I must go through mortgage brokers.

erico2k2:

Ok so what is the value of the 15% you got to pay as deposit?

RalphJean:



Bros, what is LTV again?

My Essay Writing/Comprehension teacher in Secondary school always penalised us for using acronyms that have not been defined in the early parts of an essay.
Biko what is LTV?

RalphJean:



Bros, what is LTV again?

My Essay Writing/Comprehension teacher in Secondary school always penalised us for using acronyms that have not been defined in the early parts of an essay.
Biko what is LTV?

Lexusgs430:


An MIP aka professionally linked, simply because of projected appreciation of income.........

Those that are happy paying rent continually + driving a banger ..... Kwantinue......... This life, is like a pot of beans.......

I cum in pieces........

EmmyKing86:

You see!!!

Just look at how everyone is giving their different experiences of getting mortgages particularly from erico & Lagosismyhome. There is nothing wrong in sharing our different ideas and opinions in a respectful manner as people will find them useful.

RalphJean:



Bros, what is LTV again?

My Essay Writing/Comprehension teacher in Secondary school always penalised us for using acronyms that have not been defined in the early parts of an essay.
Biko what is LTV?

TRAY2:


Most of them are time wasters, as they can not explain your circumstance better than you, i went directly to halfax explained my circumstance and it was successful. I will use a broker when next i want to remortgage by then Kpali go don ready. I no go need speak plenty English lol.

fatima04:
@ralphjean, I believe you are more than eligible. You can go through a mortgage broker and it makes application very much easy. Although just selected banks accept Tier 2 visa Halifax, Santander and Natwest (according to mine).

I am currently using one which the service is free of charge and they get paid from the bank. All this will be stated on the AIP eventually.

For deposit, some people do joint contributions (ajo) to raise this, if not feasible for you then try have a property budget and start saving the 5% of that based on a monthly target.

Obviously if you have a partner this will be much easier as you can pull resources together. You are also eligible for HTB which is govt *Equity* loan which helps add 20% interest to your deposit.

The HTB is interest free for 5 years but beware govt owns 20% of your property. This isn't as bad as it sounds and the mortgage brokers will advise you better. They will also assist with your HTB application and any information you need.

N.B- Btw, your parent can also gift you the deposit. Something called *gifted deposit*. Some banks accept friends gifting it as well to get you on the property ladder