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Mortgage Guide
Types
Of Mortgage
Click for Full Contents
100% Mortgages
aka "No Money Down" Mortgages
Mortgage
Crisis Special Note:
100% mortgages are becoming an endangered species. At the time
of writing they have been withdrawn from the market by almost all - if
not every single lender. To find out what is happening and whether you
will be able to get one talk
to a mortgage broker soon
100% mortgages are becoming an endangered species. At the time of writing they have been withdrawn from the market by almost all - if not every single lender. To find out what is happening and whether you will be able to get one talk to a mortgage broker soon
To see today's Best Buy 100% mortgages now Click here
A 100% mortgage is where the mortgage lender lends you the full amount that the property costs. (So if the house costs £100,000 you borrow £100,000).
In other words you don't have to put any money down
Usually you'd only get a loan to value mortgage between 75% to 95% (eg if the house cost £100,000 a 75% mortgage means you would borrow £75,000).
The problems with getting a 100% mortgage are:
- It
will probably cost you a lot more than necessary
- you'll be charged a higher interest rate.
- You
may get tied
in - which you want to avoid.
- You'll
be relying on property prices continuing to rise. If they
fall you'll be in a right old pickle called negative
equity.
- You'll very likely have to pay a mortgage indemnity guarantee policy. This is only good for the lender and doesn't help you.
However if, like many, you don't have enough spare cash and a 100% mortgage is your only realistic option, the good news is that there are some reasonable deals out there.
You've got to shop around to find one. This may be a drag but shouldn't be as difficult if you use an expert see ways to find your mortgage.
Read about Mortgages over 100% LTV
To read more on this subject please see the list below or your mortgage guide or your home buying guide
Read enough? Just want a quote? To get your best mortgage quote quickly and easily we can put you in contact with a recommended mortgage adviser. It's free, completely confidential and there's no obligation at all. Simply fill out the form below
See our info section for First Time Buyers
Read more about Types of Mortgages
See contents of Full Mortgages Guide
See contents of Home Buyers Guide
I've read enough for now and want to get a free Quick Mortgage Quote
The
two major varieties:
Repayment
mortgages
Interest
only mortgages
Then
mix in the various:
Interest
repayment arrangements
Finally,
to cover all the different types there's a
Complete A-Z of mortgages
Complete A-Z
All UK Mortgage types
100%
Mortgages
Base
Rate Trackers
Bridging
Loans
Bad
Credit Mortgages
Buy to Let
Calculators
for Mortgages
Cashback
Mortgages
Capped
Rate
Costs
of a Mortgage
Current
Account Mortgages
Discounted
Variable Rates
Equity
Release Mortgages
Endowment
Mortgages
Expatriate Mortgages
First
Time Buyer Mortgages
Fixed
Rate Mortgages
Group
Mortgages UK
Interest
Only Mortgages
Investment Mortgages
ISA
Mortgages - UK
Part
and Part Mortgages
Pension
Mortgages
Prime
Mortgages
Repayment
mortgages
Shared
Ownership Mortgages
Standard
Variable rate
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Mortgage
Basics
How
to Choose your Mortgage
Types of Mortgage
Where to Find Your Mortgage
Getting a Mortgage in Principle
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