Where can I obtain a mortage using 10% deposit

[vicalncraig]

I do not have a great income for a mortgage, I have been offered 65000 by my bank. I require 100000 and a friend told me that some mortgage providers will give you a mortgage with few questions asked, providing you can put down a 10% deposit. Does anyone know of such a provider? I know I can afford to pay for said mortgage as I am a good saver and have worked out the pros and cons, but the computer says nooooooo!!! Thanks in advance for all replys

[LoanArranger]

You can, clean credit provided get 90% self cert of purchase - I do not know if I am allowed to canvass here, I could do it for you my name is David [edited by AB] if you e-mail me I can tell you how it works, �90,000 on �100,000 purchase.

[WoWo]

You will be commiting fraud if you submit false earnings information on a mortgage document (which you would have to to get as much as you need).

[LoanArranger]

Sorry Wo Wo but affordability questions will allow on some lender self certs to 90% LTV & FSA rules become satisfied if similar amounts of rents or outgoings are currently paid.

It can all be covered in correspondence.

[gammaray]

You really don't want to be taking on a mortgage that is significantly greater than about three times your earnings. The reason being that at that figure mortgage providers consider the person able to meet the repayments A 100,000 mortgage, on a flat rate (and bear in mind you may not qualify for any special deals) might set you back about �800 a month. Ask yourself if you can afford this?

[WoWo]

I didn't say he couldn't get a loan I was just pre warning that false information on documents are illegal. The person says they are a good saved but doesn't say if they are currently earning anything over and above their normal wage which led to a quote of �65k.

The difference between �65,000 and �100,000 is significant and I would imagine the person doesn't have another source of income to make up the short fall.

Still wouldn't want you to lose buisness.

[wild_exodus]

Go see a mortgage advisor that is independant and will search the whole of the market for you. I too was only offered 65000 by banks and mortgage companies. When i went to see the mortgage broker he was able to get me a mortgage which offers 5 times my salary with no deposit and for a low interest rate.

[lady_p_gold]

I think you should be really careful about this unless you have funds elsewhere coming in ... there are those of us who remember when the mortgage rate went up to 14% and although you might get a fixed one they are only fixed for a certain time.

[stevieg1976]

wild exodus who did u get that offer from....soundz to good to be true????

vicalncraig....im sort of in same position except im on very good money but self employed only for 4 months. So i aint got enough accounts to show a lender.

anyhow my financial advisor sez he can sort us out no problem .......just make sure u can afford the payments and be realistic!!