Buying a new house in the UK is not that easy because its possibility is low. If you are planning to buy a new house in the UK then you will be required to meet the eligibility criteria set by the government. You will have to meet the 100% loan to value criteria for buying a house with no money down. For this purpose, you need guarantor which can be your family member or friends. Your friends or family members need to have a house in their name for the mortgage. However, this put their property at risk when you are not able to repay the loan at the time and you get into the dilemma of How to buy a home with no money down ?
In case you don’t have guarantor which can help you qualify the 100% loan to value or no deposit mortgage in the UK, then you will be left with only one option. You will have to make the initial down payment on your mortgage instead of buying a house with no money down and then moving towards the mortgage which requires the minimum down payment. You can use others people money to make the down payment. But make sure that you will be using some ones else money and their money is going down, not yours. You should be smart enough to convince people so that you can buy a house with no down in the UK. Here are some of the tips which will help you to get the money from people.
• Search for the people who belong to your circle, who want to invest their money. Give them the irresistible deal. Try to reach as many as people possible and collect small amounts from everyone.
• Make a proper plan to present in front of the people and convince them of your deal.
• Moreover, you can go to some investors who can invest a large amount of money in your plan, if they get impressed. These people search for the things to invest their money.