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100% mortgages?

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Comments

  • azazle
    azazle Posts: 33 Forumite
    I know they only offer one in my local area which is norwich, but if you ring them they will tell you if they have a scheme running in your area. Sorry i cant be more informative but i do know they have them dotted around the country. Their number is 0845 602 5450.
  • robin_banks
    robin_banks Posts: 15,778 Forumite
    Part of the Furniture Combo Breaker
    azazle wrote: »
    I know they only offer one in my local area which is norwich, but if you ring them they will tell you if they have a scheme running in your area. Sorry i cant be more informative but i do know they have them dotted around the country. Their number is 0845 602 5450.


    Are they the shared ownership/equity type of thing ?.
    "An arrogant and self-righteous Guardian reading tvv@t".

    !!!!!! is all that about?
  • azazle
    azazle Posts: 33 Forumite
    No, they are not shared ownership. This scheme is designed simply to offer 95% or even 100% mortgages to people who can very comfortably afford the repayments. My deal is 3 years fixed at 6.99%, i realise this is not competitive but it does prepare me for the inevitable rate rise.

    If you have good incoming wages and low outgoings they will consider you but if you are already hocked up to the eye balls in credit cards and loans then they will not even offer you the product. This is why in my opinion this scheme works for me. Read my earlier posts or PM me if you have any more specific questions. Failing that please give clydesdale a call, they dont bite ;)
  • Trollfever
    Trollfever Posts: 2,051 Forumite
    How do i know this? because I am one of the 12 people last year who successfully took out a 100% mortgage late last year.
    Failing that please give clydesdale a call,


    As this thread has had 1,041 visitors I guess that some will contact Clydesdale.
    Please keep us updated.
  • Dan_1976
    Dan_1976 Posts: 943 Forumite
    100% is not the issue, high income multiplyers, slack underwriting, BDM's telling brokers how to get around criteria, fast track and self cert are were the biggest threat.
    "Banking establishments are more dangerous than standing armies." Thomas Jefferson
    "How can I believe in God when just last week I got my tongue caught in the roller of an electric typewriter?" Woody Allen

    Debt Apr 2010 £0
  • azazle
    azazle Posts: 33 Forumite
    Thats pretty much the point i was trying to get across :beer:
  • Muhasib
    Muhasib Posts: 236 Forumite
    What is certain is uncertainty, but interest rates at some point will have to rise because they cannot go any lower, there is only one way intertest rates can go and that can only increase the cost of borrowing.

    If people want a 100% mortgage good for them, but it demonstrates an ability to save for a deposit.

    If you read Roger Bootle a fortnight ago, he actually thinks that the MPC should consider the option of 0% Interest Rates - so they could still go lower.
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