100% Mortgages

Also Read - Getting on the Property Ladder | Mortgage Conveyancing | Mortgage Protection

A lot of mortgage lenders only lend 90% of the cost of a home. Not everyone can afford or would even want to wait until they have managed to save up the remaining ten percent. 100% mortgages are available if you look for them. For First time buyers, a 100% mortgage can be their only means of getting a foot on the property ladder.

However you should also realise that these mortgages do have disadvantages. Because you have borrowed 100% of your mortgage you are more at risk of going into negative equity if house prices were to fall. Some lenders like to ensure that they cover themselves for the risk by offering 100% loans but by charging a higher rate of interest.

If you fail to keep up payments the lender can legally take possession of the property and sell it in order to recoup the debt they are owed. Sometimes the lender will only be able to sell the property for less than they are owed and this would definately be the case if the property had fallen into negative equity.

Full range of UK Mortgages:

100% Mortgages | Buy to Let Mortgages | Capped Rate Mortgages | Discounted Rate Mortgages | Endowment Mortgages | First Time Buyer Mortgages | Fixed Rate Mortgages | Flexible Mortgages | Interest Only Mortgages | ISA Mortgages | Non Status Mortgages | Self Build Mortgages | Self Certification Mortgages | Self Employed Mortgages | Tracker Mortgages | Variable Rate Mortgages