Tagged: First Mortgage

95% Mortgages Revisited

Filed under: Mortgages

The mortgage market has tightened up somewhat but provided you have strong income and a stable job history or no debts, then 95% is still an option for you. We now have 4 or 5 different options if you are borrowing over 80%.  In all instances they only apply to people with decent incomes –

In the current market, it has become harder for First Home Buyers to get a mortgage.  Lenders almost always require a 20% deposit.  Your parents can help by topping up your deposit or they can act as a guarantor. Deposits Parents can gift you a deposit, but often they will want to avoid the tax