The possibility of buying a home with no money down in the UK is very less. However, people seek for buying a house with no money down. You then need to meet the criteria for 100% loan to value, set by the government of UK. For it to happen you need a guarantor who mostly your family member, who have their own home to be named on the mortgage. However, this puts their property and saving on the risk if you fail to make your repayment within the deadline. This renders you to question yourself frequently How to buy a home with no money down?
When you don’t have any guarantor which can allow you to qualify 100% loan to value or no deposit mortgage in the UK, then you have got only one option of saving the initial down payment amount for your mortgage and then going for those mortgage options that required the minimum down payment.
The other way of buying a house with no money down is by using others people money. Make sure that you will be using some ones else money and it is going down. You need to be smart enough to get money from the people to buy you a new house in the UK. Here are some of the tips which should be kept in mind when getting money from the other people.
• Find the people in your circle who want to invest their money and offer them a lucrative deal which they can’t resist. Try to approach as many people as possible and collect small amounts from everyone.
• You need to think and plan the deal that you’re going to offer them, which will render them investing in your plan.
• You can reach out the investors of your locality because these are people who just want to invest their money at the right and secured place. Moreover, they can invest a large amount of money in the thing which is worth their time, if you are smart enough to convince them.