Jenny your nephew could get his parents or your self to guarantor the deposit. There are lenders out there now that will allow a family memeber to use a portion of their home as the deposit. You are only liable for the amount you want to guarantor. Eg if the house he buys is $300k. You may consider to “pledge” 10% or 20% of the purchase price 30…[Read more]

We have lenders who will go past 80% low doc with out mortgage insurance. How ever the rates are higher and exit penalties can be steep.

Most lenders or should I say call center personal do not know how it is calculated. It is done via the computer and is very complex. They use the rate you are on, what the rate is now and what they may have earned by you staing on that rate. If the current rate is higher than what you fixed it for you may receive no penalty or even a refund(ha ha)…[Read more]