Mortgage Guide
100% Mortgages
Please note that thre are no 100% mortgages available at the moment - so you will need to start working on
getting together a deposit.
How 100%
mortgages work
These loans
offers up to 100% of the property price.
Advantages
of 100% mortgages
You would
not find a personal unsecured loan at such a low interest rate.
The funds
surplus to 100% should cover all home-buying costs.
You do not need to find a deposit.
Disadvantages
of 100% mortgages
In effect,
you are in a zero-equity from day one
and if house prices then go down, your situation will worsen and you will go
into negative equity.
The
interest rate on high LTV loans is considerably higher. With some lenders, a Higher
Lending Charge (HLC) could also apply.
Which
lenders offer 100% mortgages?
These are not even available any more - ask a mortgage advisor to let you know if one comes on the market - save for a deposit and then seek mortgage advice.
100%
mortgage advice
Request
mortgage advice about 100% mortgages - though there aren't any at the moment..Features, advantages and disavantages of specific first time buyer mortgages:
100% Mortgages l
Cashback Mortgages l
High LTV Mortgages l
Graduate Mortgages l
Professional Mortgages l
Mortgages with Parents l
Guarantor Mortgages l
Family Offset Mortgages l
Mortgages with Friends or Family l
Mortgages at University l
Rent a Room Mortgages l
Affordable Mortgages l
Interest only Mortgages l
Part Repayment Part Interest Mortgages l
Interest-free Start Mortgages l
Shared Ownership Mortgages l
Poor, Adverse or Poor Credit Mortgages l
Key Worker Mortgages l Shared Equity Mortgages