Can we really buy a house with a 1% deposit? DAVID HOLLINGWORTH replies

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My girlfriend and I are looking to buy a home for £250,000. We are a couple in our late 20s and have a 共同の income of about £80,000, although we both have chunky student 貸付金 負債s to 支払う／賃金 off.?

We have very little in 貯金 so thought that 支配するd us out of buying a home for the moment.

But we have recently seen something about 99 per cent mortgages which look 利益／興味ing.?

What 貸す人s 申し込む／申し出 these 取引，協定s and what are the hoops we'd have to jump through to get one? Are they much more expensive than other mortgages??

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Mortgage help: Our 週刊誌 Navigate the Mortgage Maze column sees 仲買人 David Hollingworth answering your questions

For example compared to the mortgage we might get with a 5 per cent or 10 per cent deposit.

We have £5,000 saved up 現在／一般に, should we try and get to £12,500 for a 5 per cent mortgage or 割れ目 on? What are the dangers of going for the 1 per cent deposit 選択?

David Hollingworth replies:?In your 事例／患者, the mortgage affordability 計算／見積りs aren't going to be slowing you 負かす／撃墜する, assuming that your 去っていく／社交的なs and かかわり合いs are typical.

In your 事例／患者, the ブレーキ on buying is the need for an 適する deposit. However, as you're able to support the mortgage, a smaller deposit 必要物／必要条件 could really help.

Mortgage 取引，協定s 申し込む／申し出ing 100 per cent of the 購入（する） price or more were 広範囲にわたって 利用できる but dropped away fo llowing the 財政上の 危機.?

The typical 最小限 deposit 必要物／必要条件 in the 現在の market is 5 per cent of the 購入（する） price.

New 代案／選択肢s

Given that the deposit is such a problem area, 貸す人s have looked to develop 選択s.?

Many have tended to harness parental help but more recently there's examples of 製品s that could 申し込む／申し出 代案／選択肢s without the need for the Bank of Mum and Dad.

The 概念 of 99 per cent mortgages was 追跡するd as a 可能性のある 解答 ahead of the Spring 予算, to encourage more mortgage 選択s.?

A 政府 支援するd 計画／陰謀 never materialised but Yorkshire Building Society, and its 仲買人 brand （許可，名誉などを）与える Mortgages, has subsequently 開始する，打ち上げるd a 製品 that can 申し込む／申し出 up to 99 per cent of the 購入（する） price.

Its いわゆる £5,000 deposit mortgage 要求するs a 最小限 of, you guessed it, a £5,000 deposit.?

利用できる on 所有物／資産／財産s up to £500,000 that could equate to as little as 1 per cent of the 購入（する） price, although would 代表する 98 per cent 貸付金 to value in your 事例／患者.?

It is only 利用できる on 存在するing houses, not flats, or on new build 所有物／資産／財産s. At least one applicant must be a first-time 買い手 and there can be no other 所有物／資産／財産s in the background.

> Is a two-year 直す／買収する，八百長をする mortgage still a good bet??

Skipton Building Society also 申し込む／申し出s an innovative 跡をつける 記録，記録的な／記録する 取引，協定 enabling as much as 100 per cent 貸付金-to-v alue (LTV) lending for those that can 論証する 12 months of 賃貸しの 支払い（額）s that are higher than their mortgage 支払い（額） will be.

99% mortgage: Yorkshire Building Society is the 貸す人 behind the new proposition 許すing first-time 買い手s with a £5,000 deposit to 購入（する） a 所有物／資産／財産 valued at up to £500,000

プロの／賛成のs and 反対／詐欺s

The big 加える point of any high LTV 取引，協定 is that it could 加速する your chance of buying.?

Saving for a smaller deposit could 許す you to 購入（する） sooner, something that's even more important when house prices are climbing and could get その上の out of reach.

The 率s on higher LTV 取引，協定s will be higher than for those with a bigger deposit. The Yorkshire BS and （許可，名誉などを）与える 取引，協定 is 現在／一般に 6.39 per cent, Skipton's is at 5.55 per cent and the lowest five year 直す／買収する，八百長をするs at 95 per cent are nearer to 5.3 per cent or even a touch lower.?

A 10 per cent deposit would see the best 率s dropping below 5 per cent.

> True Cost Mortgage Calculator: Check what a new 直す／買収する，八百長をするd 率 would cost?

Skipton Building Society made headlines last year when it 開始する，打ち上げるd a 100% mortgage for renters to enable them to get の上に the 所有物／資産／財産 ladder without a deposit

The balance to higher 率s is how long it could take to save. Using something like the Lifetime Isa can help to 上げる 貯金 with the 政府 追加するing 25 per cent, if use d for a first 購入（する） or に向かって 退職.

It's important to 予算 for other costs of buying 含むing 調査する and 合法的な 料金s 加える the cost to move. You'd also ideally have a cushion to 落ちる 支援する on in 事例／患者 of any other unforeseen expenses.

A small deposit does 増加する the chance of 消極的な 公正，普通株主権 if prices slide. That is mitigated by the fact that the mortgage will need to be on a 返済 basis so the 優れた mortgage will 減ずる over time.?

The 率s on these 製品s are 直す／買収する，八百長をするd for five years which also 除去するs the ups and 負かす／撃墜するs of any 率 fluctuation.

Your 決定／判定勝ち（する） will have to come 負かす／撃墜する to a balancing 行為／法令／行動する of cost versus the time it could take to save a bigger deposit.