100% Mortgage

ptamber

Hiya

Can anyone recommend any good mortgage companies that offer 100% mortgages? I applied for 100% but the Abbey have only offered me 90%. Any suggestions would be great.

Also, the property I'm buying is off plan (ready March 2007) however I need to exchange end of this month. Will i have to pay the 10% deposit or do u think I'll get away with just handing over the stamp duty at this stage?

Thanks, this is my 1st residential (I'm used to buying BTL), I assume it shouldn't be too different




Thanks, Pav

Robert_Sterling

You will not be called upon to pay the stamp duty ( if any ) until after completion.
I think you have to pay within 4 weeks after completion.
The deposit may, or may not, be negotiable.

Ian_W

Hi Pav,
First off I'd ditch the link to your site in the message, not allowed and Abuse may decide you're touting for business and bin you! :eek:

There are some best buys for 100% mortgages at:
https://www.moneyfacts.co.uk/mortgages/bestbuys/100.aspx
but TBH you'd be better going through a broker who is fees free and can advise specific to your earnings, needs and personal circs. If you haven't used one for your BTL mortgages then I suggest you sus one out.

The process is a little different in that BTL mortgages are based on a lower LTV and your property's ability to pay whereas residential mortgages are based on your earnings minus any debts. TBH you'd be much better placed to save money if you can find a 5-10% deposit rather than go 100%. You're a much greater risk for the lender and therefore incur higher int rates/charges if you go 100%.

Finally, there is a mortgage board directly above this one for any future mortgage queries. Brave move BTW declaring your BTL history - to some on here you equate to the devil incarnate!!

jillie1974

we got our 100% mortgage through Northern Rock, thanks to our broker.

Matt1069

Yep, was also gonna suggest Northern Rock, seem to be the most popular for more than 90% mortgages