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100% Mortgages

100% mortgages, sometimes referred to as a no deposit mortgage, allow you to be able to borrow against the full value of the property.

This would mean that with a 100% mortgage, no deposit is required. This is comparatively a higher risk loan for a mortgage lender, so there are normally higher rates of interest rates charged and often a compulsory payment of a mortgage indemnity premium.

Often 100% mortgages require a good credit background for the applicant. However, there are lenders who can provide 100% mortgages for poor credit applicants even with ccjs.

100% mortgages come in many different formats including fixed rate, discounted rate, capped or variable rate. 100 percent buy to let mortgages are not available, a deposit is usually required although it is sometimes possible to remortgage your own property to create this equity.

Apart from charging higher interest rates for 100 percent mortgages the other risk for a lender is negative equity. As no equity is placed within the property value, because there is no deposit, if house prices instantly decrease after the property is bought then no equity exists as a buffer. This means that if you need to sell your home the 100% mortgage taken out on the original value of the property would outweigh the property new value.

Endsleigh Financial independent tailoring are able to assist by guiding you through the best options for 100 per cent mortgages. We are able to look at 1000s of mortgage products within the UK marketplace. Click here to fill out our online mortgage quote form.

Our mortgage advice is free (unless you opt to pay a fee) and unlike many other mortgage companies and brokers our staff are salaried, not paid commission on the products that they sell, meaning they really do act independently within the mortgage marketplace to try to get you the best deal.

Endsleigh were extremely helpful and efficient throughout my mortgage application, helping us to compare the various mortgage products in the market. I am very pleased with the product they secured for us.
AN, Abingdon

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Endsleigh Financial Independent Tailoring is a trading name of Endsleigh Independent Financial Services Limited which is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk/register.
Endsleigh Independent Financial Services Limited. Company No: 4132605 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.