Are nearby any first time buyer scheme where on earth you don't entail a deposit for your partially of the mortgage?
I've found lots of schemes where you own 50% of the property but I don't know if you after need a deposit for your half of the mortgage or if it comes out of the 50% owned by the other personality (eg the government)? We're desperate to get on the property ladder! Can anyone assistance?
Thanks!
Answers:
Hey hunny, i am currently right in the middle of buying a shared equity home with a housing association i will own 75% of the property and no we did not stipulation a deposit to put down!
Good luck go for it i'm sure if i dont need a deposit for 75% afterwards you surly wont need one for 50%.
(just thot i'd mention i am in Scotland tho - not sure if it may vary in England, Ireland, Wales or anywhere else)
xxx
In the United States, there are plenty of variation on shared equity in which the resident buyer doesn't need a deposit for his/her partially of the mortgage. That's one of the advantages to such programs: One person lives in the property and make the payments; the other lends his/her credit, provides a downpayment, and receives a portion of the profits upon mart.
By the way, everything's negotiable--percent of property ownership, amount each personage puts down, who's responsible for repairs, and so on.
Hope that helps.
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Extreme Makover - Do they reward the mortgage on adjectives the houses?
Im wondering because I see most of these home going into forclosure? I htought these houses were paid for? I also know that the atlanta home took out 450.00 worth of equity on the house (stupid) and could not foot it off....but...
Thanks!
Answers:
Hey hunny, i am currently right in the middle of buying a shared equity home with a housing association i will own 75% of the property and no we did not stipulation a deposit to put down!
Good luck go for it i'm sure if i dont need a deposit for 75% afterwards you surly wont need one for 50%.
(just thot i'd mention i am in Scotland tho - not sure if it may vary in England, Ireland, Wales or anywhere else)
xxx
In the United States, there are plenty of variation on shared equity in which the resident buyer doesn't need a deposit for his/her partially of the mortgage. That's one of the advantages to such programs: One person lives in the property and make the payments; the other lends his/her credit, provides a downpayment, and receives a portion of the profits upon mart.
By the way, everything's negotiable--percent of property ownership, amount each personage puts down, who's responsible for repairs, and so on.
Hope that helps.
Related Questions:
Extreme Makover - Do they reward the mortgage on adjectives the houses?
Im wondering because I see most of these home going into forclosure? I htought these houses were paid for? I also know that the atlanta home took out 450.00 worth of equity on the house (stupid) and could not foot it off....but...