However, the discipline of saving up a deposit is a useful one from a budgeting point of view, and to give you a better understanding of the long-term commitment that is a mortgage.
Interesting views. I am eligible for AIB Young Professional Mortgage (100%) as I am an accountant, very secure employment (I genuinely work in a recession proof industry),
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Yes very recession proof
If the purchse price of a house is an accurate reflection of the value of the house and supposing the value of the house never falls, is there anything really wrong with a 100% mortgage? Assuming person remains in employment and can afford the repayments.
yes but if someone can do that job cheaper in india/poland/estonia then your job may not be quite so bullet proof
Her assumption that she is in a recession proof job was queried as she herself posited that using a 100% mortgage was based on the assumption that the person remains in employment.Assuming person remains in employment and can afford the repayments.
Interesting views. I am eligible for AIB Young Professional Mortgage (100%) as I am an accountant, very secure employment (I genuinely work in a recession proof industry), well able to afford the monthly repayments by myself (no rental income or lodger of any kind) even if rates went up to 2008 peaks. I have a very sensible track record with loans and savings. I just wouldn't have more than 3 or 4% deposit saved. I'm interested in buying a genuine home for my long term future (4 bed semi) with no intentions to resell/ upgrade/make a quick buck.
So my question is: if the price is right, is it safe to say I'm not being totally daft or irresponsible accepting a 100%?