Hi, im looking into getting a mortgage within the next 2 years, hopefully sooner.
Im 21,
I earn 23k PA
I have savings of around £5,400
My questions.
1. Is it possible to take out a loan from lets say, Tesco personal loans to bring my 5.4k up to around 8-9k so i have a 10% deposit? (houses are around 75-89k in my area) - or do banks reject you if you do that?
1b. Or is it possible to get 5% mortgages? Ive heard mixed answers.
(on any home, not just new build. I am aware of the government scheme)
2. Should i save for a few more years and build up my savings instead of looking now?
What do you think, looking forward to hearing back.
Im 21,
I earn 23k PA
I have savings of around £5,400
My questions.
1. Is it possible to take out a loan from lets say, Tesco personal loans to bring my 5.4k up to around 8-9k so i have a 10% deposit? (houses are around 75-89k in my area) - or do banks reject you if you do that?
1b. Or is it possible to get 5% mortgages? Ive heard mixed answers.
(on any home, not just new build. I am aware of the government scheme)
2. Should i save for a few more years and build up my savings instead of looking now?
What do you think, looking forward to hearing back.