Getting a mortgage, bit of help please

I'm looking to get a flat inthe center of belfast for about £120-£160k

I am 20, a student and self-employed and have about 20k in the bank

However I cant use all of that as my deposit as I need some capital for my business

I went to ulster bank (part of RBS I think) for the best rate and I think it was 4.5% for 5 years then the rate increases

Can people explain the best route to go down and best place to get a mortgage atm with the smallest deposit



smallest deposit is usually around 10% at the mo as banks arnt lending but the best bet is to shop around


This may help


With house prices still falling this might not be the best time to jump into a mortgage.

EDIT - if you are going for it, take a look around the Motley Fool: - they do comparisons between products.

House prices are starting to rise again in N Ireland though and are almost as low as they were 4 years ago when I bought mine so good time to get the ball rolling and after shopping around last year I went for Ulster Bank too as it seemed to be the best on offer around.

I'm not convinced about the house prises rising. There was a 1-2 month rise in some areas but I think that will prove to be a blip because prices fell too quickly at first. The recession is a long way from over and it seems likely that more people will lose jobs in the coming year. That will put more downward pressure on house prices. I don't think we've seen the bottom of the housing market yet. Even if I'm wrong it seems unlikely that there will be a big rise in prices this year so a 6-12 month wait is probably sensible.
Post a comment
    Top Discussions
    1. Cheapo tips for around the home. Aka "life hacks"2243
    2. Walnut snip: Nestlé cuts nut out of chocolate after prices surge - The Guar…1516
    3. jeremy hunt £44.000 for a new bathroom ??1212
    4. so sick of this summer weather enough .......1929

    See more discussions