Buying my first Property

oceanclub said:
Um, the fact that you're getting a 100% mortgage (I didn't even think anyone did these anymore) in a tanking housing market?

P.
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You must be crazy taking on a 100% mortgage in a falling market. You are almost guaranteed to go into negative equity the moment you buy. If you can't manage to save up a deposit, you can't afford to buy.
 
raven said:
You must be crazy taking on a 100% mortgage in a falling market. You are almost guaranteed to go into negative equity the moment you buy. If you can't manage to save up a deposit, you can't afford to buy.
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Its long term investment. Possible neg equity on short term, same concept as pension schemes.

I dont want to pump my savings into a property where i cant get at it.
 
Have you really thought about this? There are some pretty strong indications that it's more than a possibility you'll be in neg equity, and perhaps for longer than the short term.

Why the rush to buy into a falling market?
 
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