Alex_Heesom:

If it helps i work for Shell and my annual wage is £81,000 as a QA/QC Inspector

Any jobs going? ;)

Alex,

I will put a couple of links below from John Charcol who I used for 3 mortgages and they had relatively low fees for obtaining good rates for low deposits.

A most important point is also that you will need some kind of cedit history, even if you can get a credit card or two, make some small transactions and pay off nearly all the balance each month it helps prove that you can manage your credit fine. Banks are more willing to lend if they can see that you have proved you are responsible with your money. I do however have a feeling that you may need a bigger deposit which also helps with the number of banks willing to lend to you. Have you any other way of raising say a 20% deposit instead? If not, just keep saving, that job sounds good!7

the 2nd link is the diy iption so you can try different deposits, lenders, etc and this way is normally cheaper in terms of fees but it costs nothing to get a quote. I used them 3 times in 2 years when buying investment properties. Congatulations on your first step on the property ladder.

Note: Links removed. Please read the moneysupermarket.com Community Standards and Terms of Service. Cheers.

ATM,

I appreciate the response.

The house in question is currently owned by my Uncle, I know the current condition of the house and know that I would rather do all the structual work and decorating before moving in, I am currently at home with the parents and have as long as i want to move out although I would like to get on the market and get the house asap simply for something to put my money into, having said this the mortage at my age will probably be hard to acquire and I am willing to wait a year and save up a bigger deposit.

If anybody has any ideas percentage wise how much i would have to put into this house to recieve a mortage i would really appreciate any help.

Thanks ATM

Alex,

with that wage and a property market probably dropping orstalling for a couple of years why don't you save a bit longer and get to buy a house a bit later when prices are cheaper.

Remember that you also need to figure the cost of legal fees, furnishings, appliances etc, etc so you may need a bit more money anyway.

Hi,

I am currently looking into buying a property worth £130,000. I was wondering how much of a deposit i would need to place in order to get a mortage.

I know there probably arnt many 19 year olds who can afford to buy a property that expensive but i have been saving for a few months now and have £15,000 saved and am looking to invest my money in property.

Thanks

Alex