I think the government are going to help first time buyers so they should I think there will be a 95% morgage so you only have to find the 5% deposit saying that why cant they give a 100% deposit as 5% is still hard to find when you are paying out enough anyway mmmmmmmmmmmmmmmm !!!!!!!!!!!!!!!
Because this is where it all started to go wrong when the property market was buoyant and lenders gave out money left right and centre to people who knew they couldn't afford it, but still went ahead with purchasing. Yes the lenders were to blame aswell, but the people they were lending to, knew what they could and couldn't afford.
Now a substantial amount of people who shouldn't have been able to purchase a property are either in it up to their necks, with negative equity and not able to sell, or even worse have already been reposessed and now have a bad credit rating, therefore not being able to get the smallest of good loans if necessary, should the need it. Being blacklisted on a credit list is not somewhere anyone wants to go.
Do not buy a property until you have a good deposit, some money behind you and most important get a mortgage from a reputable lender
