It is possible to obtain 100% mortgages uk that cover the full value of a property, without the requirement to put down a deposit or leave spare equity. 100% mortgages uk are very popular in a rising property market, particularly for first time buyers wishing to obtain a footing on the property ladder, and who do not have a deposit available. 100% mortgages are not suitable for everybody's needs, in a falling property market you may end up owing more than your house is worth, i.e. a 'Negative Equity Situation', and you should obtain professional advice before deciding on which type of mortgage is most suitable for your needs. To help you find the most competitive 100% mortgages uk deal to meet your unique and specific needs, it is of great importance to obtain Independent Advice from a qualified Independent Mortgage Adviser, who works for you, not for a panel of lenders.
The main points that will be considered by the lender are as follows
1. Are you on the electoral role, and can we trace a 3 year address history.
2. Are you a UK citizen or do you have permanent rights to reside in the UK.
3. Are you in full time permanent employment and does your employer offer access to a company pension scheme.
4. Have you had any adverse credit history? (Late or missed payments on any credit arrangements, credit defaults, county court judgements, bankrupt or IVAS)
5. Have you conducted any current or past mortgage in a satisfactory manner.
6. What outstanding credit do you currently have.
The main attraction of these schemes is that you are able to use the additional funds to pay off short term credit arrangements, which would improve your cashflow, or use the funds to improve your property. Although the credit scoring system is in place which you will have to pass, subject to a good credit score the lender will stretch way beyond normal income multiples. Where the lender relies on credit scoring it is always advisable to run a decision in principle to find out exactly what the lender will be prepared to lend, in order that you are looking to purchase in the correct price bracket for your given circumstances. You should always obtain professional advice before deciding which type of mortgage is suitable for your needs. To help you find the most competitive %125 mortgage in the uk to meet your unique and specific needs it is of great importance to obtain independant advice from a qualified independant mortgage adviser who works for you and not for a panel of lenders or estate agents.
We are very careful to ensure that all our partner advice companies are, and remain to be, independent and retain whole of market access to ensure that you can obtain (through our service) the most appropriate mortgage to meet your needs.
The aim of this service is to introduce people like yourself to a specialist independent mortgage adviser, who can either advise and recommend a specific mortgage deal for you (based on your needs / circumstances) or can offer detailed information on suitable products to help you select the most appropriate mortgage deal available to meet your needs.
The key to our service is independence. The adviser that we will introduce you to will be fully independent, and as such will review the whole UK mortgage market to give you the best advice and access to some exclusive deals. You are under no obligation to proceed.
You will be instantly notified by e-mail of any additional information required, using an easy to complete mortgage questionnaire form. All information will be contained on a secure server, and will remain confidential between you and your adviser.
