Mortgage and Business News » 95% mortgage http://www.100mortgages.org Keep updated on the latest mortgage, global economy and business news Thu, 02 Feb 2012 20:27:50 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 100% mortgage all but dead will 95% mortgages be nexthttp://www.100mortgages.org/20080707/100-mortgage-all-but-dead-will-95-mortgages-be-next/ http://www.100mortgages.org/20080707/100-mortgage-all-but-dead-will-95-mortgages-be-next/#comments Mon, 07 Jul 2008 14:01:46 +0000 Peter http://www.100mortgages.org/?p=414
The housing market seems to be stuck between a rock and a hard place at the moment, house prices have fallen by 6.9% in the past year and many would have thought that would be great news for first-time buyers, as things should be easier for them to get on to the housing ladder.

However; this is not the case, we know that houses are getting cheaper but taking out a mortgage is now more expensive than ever, firstly interest rates have increased along with increased mortgage lender fees.

One of the major problems that first-time buyers face is the death of the 100% mortgage, so if you have no deposit, then you have no way of getting on the property ladder.

The current credit crunch is now taking a firm hold on the housing market and this means that the next victim could be the 95% mortgage, just take a look at all the current deals, try and count how many of them are for a 95% mortgage.

Some of the best deals to be had are those that require at least 25% deposit, and that is the major problem, how many first-time buyers do you know with that kind of money to put down as a deposit on a house.

]]> http://www.100mortgages.org/20080707/100-mortgage-all-but-dead-will-95-mortgages-be-next/feed/ 0