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[The Sheriff]

Thing is , what they pay out in rent could easily get them a mortgage  I know loads of couples that rent at £800 pm and they can buy a place for £600 pm ... they dont want the commitment of a mortgage  No wonder landlords are raking it in 

As you say the monthly payments are'nt a problem as the mortgage will probably cost less per month than rent anyway,its the 30-40k deposit that most lenders want upfront that causes the problem.

When I bought my first house interest rates were set at 15%.

Having just spent almost £5000 on a  brand new Yamaha FJ1200 I plumped for  a 100% mortgage. However, there is no such thing as a free lunch  and the interest rate was raised to 16.5% for the first year.

Try getting a 100% mortgage today. Not possible I think.

In the halcyon mid noughties, you could get 120% from those wonderful Northern Rock people.

Yep....and there was often tears before bedtime as a result....

You borrowed 120 grand on Monday, bought a house for 100 grand on Tuesday and sold it for 150 grand on Thursday

Thats if you were lucky, because the following Monday it was only worth 80.

[Field Marshal Dr. Opti]

Thing is , what they pay out in rent could easily get them a mortgage  I know loads of couples that rent at £800 pm and they can buy a place for £600 pm ... they dont want the commitment of a mortgage  No wonder landlords are raking it in 

As you say the monthly payments are'nt a problem as the mortgage will probably cost less per month than rent anyway,its the 30-40k deposit that most lenders want upfront that causes the problem.

When I bought my first house interest rates were set at 15%.

Having just spent almost £5000 on a  brand new Yamaha FJ1200 I plumped for  a 100% mortgage. However, there is no such thing as a free lunch  and the interest rate was raised to 16.5% for the first year.

Try getting a 100% mortgage today. Not possible I think.

In the halcyon mid noughties, you could get 120% from those wonderful Northern Rock people.

Yep....and there was often tears before bedtime as a result....

You borrowed 120 grand on Monday, bought a house for 100 grand on Tuesday and sold it for 150 grand on Thursday

Thats if you were lucky, because the following Monday it was only worth 80.

 As you so rightly point out Steve, timing was all important with a 120% mortgage. Get it right and...

Fu*k it up and destitution awaits you.