Raising a deposit for a house
For most people, buying their own home is one of the greatest achievements
of their life. However, house prices are at their highest levels ever,
indeed the market is slowing slightly because of first time buyers struggling
to get their first mortgage. If you are thinking of getting a standard
mortgage then you will be expected to provide a deposit. If you have no
savings then this is going to be a problem. You can either go for a 100%
mortgage in which case you will not have to provide any deposit, but your
monthly premiums will be slighly higher than a standard mortgage or you
could arrange to borrow the house deposit via a personal loan. The advantage
here of course is that you can pay off the deposit loan in your initial
few years and then live a little more comfortably once that period is
over.
paying your house deposit with a loan
providing a house deposit in the form of an unsecured loan is no problem, you can borrow up to £25,000.