Skip to main content Skip to footer

I have no deposit. How can I buy a property?

I want to buy a property but I have no deposit.

Asked on Oct 17 2009, Home Finance in Carshalton | Report content

Answers (3)

Was this question useful? Yes 3 No 0

Sort by: Oldest | Recent | Highest rated

  • Negotiate a 30% discount off the market value, this can then be used as a gifted deposit. You will need a solicitor who understands this. If you are flexible there are developers who can't sell their properties, mostly 1 or 2 bed flats, worth talking to them to see if they can do anything to accommodate your requirements but you must have a good credit rating and proof of income that you will be able to afford a mortgage.

    Answered on Oct 20 2009, Report content
  • Negotiating the 30% discount - BMV (below market value) is the first step. Then find a mortgage. Then arrange a NMD (no money down) facility. Have a look at - we can put you in touch with a suitable mortgage broker and provide the finance and legal know-how to make it all work. There may even be cash-back available if the discount is good enough.

    Answered on Dec 5 2009, Report content
  • You can get on the property ladder by looking for a "RENT 2 OWN " scheme which are offered by a few landlords I know. You will need a small deposit of 2 to 5% and you are in. No credit checks, no mortgage etc and you can own the house with the price FIXED from day one.

    Answered on Feb 22 2010, Report content

Didn't find what you were looking for? Ask a question

More Home Finance in Carshalton questions on AskMe

See more AskMe Q&A about Home Finance