100% Mortgages

If you're unable to afford - or prefer not to pay - a deposit, then a 100% mortgage may be the best choice for you. Particularly popular with first time buyers, 100% mortgages are available with dozens of companies throughout the UK.

100% mortgages allow you to arrange a mortgage deal without paying a deposit (usually around 5-15% of the property value). With house prices continuing to rise, this is a very useful arrangement for people looking to get a foot on the property ladder.

There are advantages to no money down mortgage loans. The main advantage is that you do not have to supply a down payment. For many families on tight budgets saving the necessary 20% down payment can prevent them from qualifying for traditional mortgage financing. With a 100% mortgage loan a down payment is not required. The bad news is these mortgages come with higher interest rates than traditional mortgages. Having good credit is not a requirement for this type of mortgage financing; however, it helps to have decent credit. There are 100 percent mortgage loans available for every credit rating; you will just pay different amounts for the financing.

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