Finding You the Best 100% Mortgage Deal
Looking to get onto the property ladder and need advice about the mortgage process? At SaveYourMoney, we are here to make the hard decisions easier with our own qualifed mortgage experts. Let us worry about your mortgage and the legal stuff whilst you start thinking about the new colour schemes and carpets!
Benefit from free 100% mortgage advice
- A designated adviser from start to finish to ensure a smooth transaction.
- We complete your mortgage application and provide a copy for your records.
- Regular updates by email or text alerts to keep you fully updated.
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100% Mortgage FAQS
Do you qualify for 100% mortgage deals
We have access to all lenders offering 100% mortgages deals. Lending is based on your gross income before tax and your credit rating. Assuming you have an average or better credit rating we can typically arrange up to 4.0 times joint income, however the cheapest deals often based lending on 3.50 times joint income.
100% mortgage decision in minutes
Use our online enquiry form and our qualified mortgage advisors will contact you to confirm how much you could borrow and the monthly mortgage repayments. You are under NO OBLIGATION and this service is free. We can often get you a lending decision whilst we talk over the phone.
Is a 100% mortgage a good idea ?
100% mortgages allow you to get onto the property ladder without saving for a deposit. Generally allowing you to buy sooner rather than later. How long would it take you to save a 5 to 10% deposit. If the reality is never, then 100% mortgages could be for you. In any event you always need to take professional advice before making a decision.
Are interests rate higher for 100% mortgages ?
Usually the rates of interest will be higher, typically 0.25% to 0.50% compared to mortgage deals with a deposit. This is because there is more risk to the lender & fewer products to choose from means less competition for your business. However on a £100,000 mortgage over 25 years on interest only this represents about £20-40 per month difference.
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Are 100% mortgages available for people with poor credit ?
Generally no, the lenders are much stricter with their cirtiera for 100% mortgages. However if the issues affecting your credit are over 6 years old or very minor, say less than £250 then you may qualify – we recommend you speak to our mortgage advisors to find out more.
Are there any extra risks with 100% mortgages we need to know about ?
100% mortages mean you have no “equity” in your home and therefore could end up in negative equity if house prices fall, this could make it hard to sell your home if needed to, you should always make provision to reduce the debt as quickly as possible and take professional advice if you are in any doubt.
We Manage The 100% Mortgage For You.
Having found you the best mortgage deal, we will manage your application through to a successful completion with a minimum of fuss. Our advisors are on hand now to deal with your every requirement, we understand about time and money and we could save you both.
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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP THE REPAYMENTS ON YOUR MORTGAGE. THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
