100% Mortgages are designed to allow you to purchase a property WITHOUT having to provide a deposit.

"I am buying for the first time, do I need a deposit?"

No. 100% (and 100% plus) mortgages can be arranged for you. This means that you do not require to pay a deposit of any kind. Furthermore, many lenders will allow you to add legal fees and stamp duty to your loan. You should always remember that by adding monies to your loan, you are increasing the loan you have to repay. However, 100% loans offer home purchase to those who would rather use their savings for home improvments or to repay debts, for example.

"Won't I borrow more than the value of the property?"

Yes, and you should always be aware of this. This would cause a problem if you wished to sell the property soon after the mortgage started, as the outstanding loan would be more than the property value. However, most 100% mortgages are not short term, giving the borrower time to start to repay the loan, and if the property increases in value, this creates equity in the property.

What if I have existing debts?

Some lenders will allow you to borrow up to 125% of the property value - this allows you to repay debts, pay stamp duty, legal fees and other costs. It also allows you arrange home improvements, for example.

Features of 100% Mortgages:

Up to 125% Lending - to pay fees and consolidate debt
Fixed and Discount Rates
Low fees


Interested?

Why not complete the enquiry form to obtain a NO OBLIGATION personalised quote? C

LIC

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.