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100% Mortgages
You will need a deposit of at least 5% to get a mortgage. Unfortunately, this will not allow you to get the best mortgage rate - such deals are reserved for those with 25% or more deposit On the positive side, house prices have fallen by up to 25% and the market looks like it has reached the bottom following small price increases reported by Nationwide and Halifax. However, continue to exercise caution as there could be a second wave to the recession; cuts to public spending in 2010; redundancies continuing well in to the recovery; credit card debt is high. All of this goes a long way to restricting growth in the economy, so it could be many years before we see a strong recovery and house prices start to rise strongly again.
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