I am 21 & Me and my partner would like to buy our first house. Its a friends house and she needs a quick sale as she is moving abroad for her new job. Its has been valued at £140,000 but she said we can buy it for £100,000 fully furnished. We do not want to miss out on this bargain. We have already saved a deposit of 10,000 as we was already looking to mortgage a house. Halifax wont offer us a 5% mortgage deal. They want 15% and so do every other bank we have applied with. I wanted to know if we could get a joint loan of £5,000 for the rest of the deposit. I would assume that the bank will frown upon this but could it be an acception as we have put MOST of the deposit? We can afford both mortgage and the loan repayments with a joint income of £45,000 and small financial commitments such as phone contracts etc. But we don't have enough time to save the extra. Has anyone had a loan for their deposit? We dont want to get a loan to find out we will not be able to get the mortgage.
All answers will be highly appreciated. Thank You:)
Read more: Can you get a loan for your house deposit?
