100% mortgages for Graduates

Choulsey

Hi,

I'm leaving Uni this year to get a decent job I hope. But I have just noticed my bank (HSBC) as part of its "Graduates account" offer a Mortgage for 100% of the value of the house or whatever you pay for it ( whichever is lower). This offer runs for 5 years after I graduate.

Other than probably having insanely high monthly charges and potentially being very long what other problems should I be looking for?

Nick

JoeK_3

Hi Nick, this is the world of buying property.

Many people on here post threads to say that they can not get on to the property ladder due to high prices.

It looks like you will be one of the lucky ones.

These are some of the fees that you might have to pay:
1) Stamp duty (Subject to property value 1-4%)
2) Solicitors Fees - Approx £650 +
3) Lenders Arrangement Fees - £399 +
4) Higher Lending Charge £600*

The lenders arrangement and *product fees are subject to which lender and product that you eventually choose.

Start saving.

JoeK