100% Mortgages

[Deleted User]

Questions are: do they exist? If so, where?

Thanks

Malmo

What is the reason for the question?

There is a very limited pool of lenders that offer 100% LTV, but these products usually:
a) require a guarantor (like a close relative) whose own property is used as collateral OR
b) require a relative who can deposit a % lump sum into an account held with the lender for a fixed term, after which it is returned if the mortgagee's payments are made on time

My advice is to save as much as possible. The deposit is only one part of the total cost of purchasing. The other costs are also significant, such as the Stamp Duty Land Tax, legal costs, lender's and surveyor's fees, broker fees etc...it all adds up.

Mary83

I am by no means a money expert, but like Malmo said, the offers a very limited. I believe Barclays offer one, called Family Springboard mortgage, you can buy your home without a borrower deposit if your family or loved ones can provide 10% of the property’s price as security. Other than that I have not heard of any other high street lender, you may find some subprime lenders do them, but they should be approached with caution due to the interest they charge.