Who will offer a new build mortgage with a vendor gifted deposit?

Question

I've just split up with a partner and need to get a place of my own, i was renting before and never got round to saving any money. I found a new build apartment with a 10% vendor gifted deposit, but i'm finding it really difficult to get a mortgage for the other 90% without putting any funds in myself. Does anyone know of any who will do 90% mortgages on a new build flat with a vendor gifted deposit?

Answer 1

The lenders are telling you can't afford it. You said you are putting no money down, which tells me you can't afford it. So now I'll tell you: you can't afford it.

Time to find a rental.

Answer 2

.   A private individual will do this.  Most mortgage companies can refer you to one.  You will pay 9% interest until you have made a year's worth of on-time payments.  Then refinance.

Answer 3

Ahem, that train left the depot AFTER the sub-prime mess.

Seller-assisted buying is on a decline because of the much advertised tightening of the credit market.  Chances are if you can't afford a down payment, you don't have the financial capacity to maintain a home with repairs and unexpected expenses.

If you were looking a year to one and a half years ago, all you would have needed is a pulse.

Sorry, but the party is over and the credit markets are in hangover mode.