100% Mtgs

OMAR

Who lends the most for 100% graduate MTGs....salary £23000

AndrewSmith

Depends on your circumstances but Scottish Widows Bank are worth a look in my opinion.

Andy

MORPH3US

In my experience, no one could beat HSBC's graduate 100% mortgage in terms of interest rate, but on £23,000 i'm not sure how much they would lend you!

M

sarah_elton

MORPH3US wrote:

In my experience, no one could beat HSBC's graduate 100% mortgage in terms of interest rate, but on £23,000 i'm not sure how much they would lend you!

M

I agree. When I took out mine the lending limit to graduates was 4.25 x salary, regardless of 100% or not.

There's a calculator on their website which will tell you how much you can borrow.

It will also tell you the repayments which is the key bit. If you do go to the max, work out your monthly budget carefully as you'll find you don't have much money left over.

I took out at 4.21 x salary, but based on my main, full time employment. They wouldn't consider a second, freelance job I have as it's a self-employed thing, but that actually tops up my income by about a third. Without that, I'd have my flat which my love, which is good as I'd be very short of money for going out.

Also think carefully on a 100% mortgage - obviously any downturn in prices and you're fully exposed and could get into negative equity easily. Read some of the price crash threads on here and just make sure you're sure before going ahead.

MORPH3US

Good post Sarah!

As I said earlier, myself and my GF are graduates who are getting a 100% mortgage with HSBC.

We are both on less money that the OP (about £18,500 each) but obviously together thats £37,000.

We were originally looking at 3 bed semi's for up to £145,000 which would have been a stretch. In the end we found a nice 3 bed terrace for £126,000 which will allow us a lot more flexibility and will allow us to make the maximum 20% overpayments for the fixed term and hopefully save like never before to get a lump sum ready to pay off too after the fixed term.

The overpayments should also hopefully mean that we don't fall into negative equity - fingers crossed!!

OP, can you give us any more details on how much you are looking to borrow etc?

M

OMAR

what about co-op?

_Andy_

A simple please and thankyou wouldn't go amiss. Rather than your style of "gimme the information." and "gimme more information."

OMAR

ahh ha...found my previous post...and yet again....found a sarcastic response from andy.....grow up

_Andy_

There is no sarcasm in my post. I was merely pointing out that is generally considered polite when requesting information to at least use a 'please' and 'thankyou'. I don't intend to start some kind of 'flame' exchange with you, so please avoid the insults, thanks.

OMAR

Really......Oh right

toontastic

I'm looking for the same thing and as well as looking at HSBC the broker will be looking at Northern Rock, RBS and Accord for me.