Bristol And West 100% Mortgage. Yes 100%

minimike2

I cant see B&W being swamped with business for that deal tbh.

mitchaa

minimike2 wrote: »

I cant see B&W being swamped with business for that deal tbh.

Only alternative is saving a 5-10% deposit then for a rate that will only be at best 1%-1.25% better

Sooler

Jimuth wrote: »

Irresponsible lending. End of.

... or irresponsible borrowing.

minimike2

mitchaa wrote: »

Only alternative is saving a 5-10% deposit then for a rate that will only be at best 1%-1.25% better

Or the other alternative of not buying......

I suspect this will be the case for most.

curlyboy

still risky business didnt think 100% wereavailable now

youngmoney_2

The Abbey product is only available to people remortgaging or buying a second property so that rules out FTB's

The Bristol and West product requires a second party (usually parent or step parent) and they will then be jointly liable for the mortgage. The second party doesn't have to go on the deeds but they will be jointly liable for the debt. The second party also has to be under 60 years of age.

mystic_trev

As has been pointed out, the borrowers Parents or 'sponsor' will quickly find out that these aren't a 100% mortgages if the borrower defaults!

meanmachine_2

I wish some of you people would do research before posting new threads.

The Bristol and West and Abbey products have been there in the marketplace all the time.

They haven't suddenly appeared.

As others have pointed out, there are NO "clean" 100% mortgages on the market right now.

The only difference between now and, say, 3 months ago, is that the B&W interest rate has gone up from 6.5% to over 7%.

Conrad

Try getting one of these through - very hard. I did the B & W firststart product for a professional with Dad (a senior Police commander with no mortgage) as guarantor and it only just went through - nighmare.

mitchaa

meanmachine wrote: »

I wish some of you people would do research before posting new threads.

The Bristol and West and Abbey products have been there in the marketplace all the time.

They haven't suddenly appeared.

As others have pointed out, there are NO "clean" 100% mortgages on the market right now.

The only difference between now and, say, 3 months ago, is that the B&W interest rate has gone up from 6.5% to over 7%.

Strange that as its been widely publicised on here and in the press that 100% mortgages were extinct.

I for 1 thought they were.

Perhaps they have always remained like you said, but every thread you read on the mortgage/house price section of the forum FALSELY states that FTB's now need 5-10% deposits.

This is wrong, hence the purpose of this thread.