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Are there any 100% mortgages to help first time buyers?

My son is trying to get a mortgage to buy our home (he already lives with us), he doesnt have any deposit & he is a first time buyer - is there anyone who can help him? We still have an outstanding mortgage on the property.

Asked on Jul 11 2010, Home Finance in Skelmersdale | Report content

Answers (3)

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  • 100 per cent mortgage deals are not currently available. The maximum loan to value currently available is 90%, so borrowers will need at least a 10% deposit.

    Answered on Jul 12 2010, Report content
  • No. He has to save up like people did for the 50 years prior to the last 10 years

    Answered on Jan 6 2011, Report content
  • He may be able to get a mortgage to buy if you are selling at a discount to a family member. Some lenders will allow a gifted deposit in these situations. Check with an independent mortgage advisor or visit our site.

    Web reference:

    Answered on Aug 18 2011, Report content

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