100 % Mortgages

100% Mortgages are when you have no deposit available to buy a property. The lender will now offer 100% secured mortgage on to the property. In some cases some lenders will lend you up to 130% of the value of your property but only part of this will be as a mortgage and the other part will be a personal loan.

Because some lenders are willing to offer this service the income verification and credit scoring will be more thorough. The interest rate is also very likely to be higher then products available for clients with a deposit available.

It is very important that when you take out a 100% mortgage that you are definitely sure you can repay the repayments otherwise you could incur serious problems.