Hi,

I hadnt heard of them, problem with that is, we haven't got any relatives that would do that and we have a 10% deposit sitting on the table so I dont see why we would need to take a 95% mortgage, and wouldnt the rates be higher?

Thanks,

Have you heard of a Lloyds TSB Helping hand mortgage?

They will give 95% to a first time buyer if a relative keeps 20% of the loan in Lloyds TSB for three years.

Hi Guys,

Hope you can help me.

The situation is with the market being relatively low at the moment we are looking to buy a property. We currently live with my partners mother who has just accepted an offer on her house so hopefully that will go through (we only moved in to help her with the mortgage payments!)

We have approx £15000 for the deposit and fees.
We should have ok credit. We havent missed any payments in the past 3 years but prior to that my partner did go over his overdraft a couple of times but it was the bank randomly taking out money left right and centre for no reason. In the end he moved bank accounts to HSBC just to prove it wasnt him. Anyway I am babbling. I have 3400 on a loan which i have never missed any payments and 2000 on a balance transfer interest free credit card. Richard has about 500 on a store card, buy now pay later ending in sept, this will then be paid in full and he is paying off a laptop o/s balance approx 500.

We earn guaranteed £16k each, richard more if he works additional hours which is often. I am considering getting a part time bar job just to rake in a little extra cash approx 6-10 hrs a week. I have been in this job 2 years and richard his 1 year. Richards 16 yr old brother would be living with us for a few years and we would be expecting approx 200-250/month in board, havent really come up with an exact figure, he is going to do an electricians apprenticeship when he finishes school next month.

Basically ive heard that 90% mortgages are for people with perfect credit, are we out of our depth? We may just scrape together extra for 85% but we would have to borrow and thus outgoing payments would be higher.

Anyway, if anyone has any guidance or advice for us, it would be much appreciated.

Many thanks