Anyone know of 100% mortgages?

[samp 10]

does anyone know who does 100% mortgages, or a small deposit

thanks

[Jeffrey Shaw 89]

Try the comparison websites: moneysupermarket, moneyfacts, etc.

[samp 10]

ive looked but they say they do then when you go to website they dont

[Jeffrey Shaw 89]

Try http://www.knowyourmoney.co.uk/100-percent-mortgages/?gclid=CP6Cj7r-6bECFYQhtAodVRQA3w

or http://www.moneyexpert.com/money/mortgages/mortgages/mortgage-calculator/home.aspx?affiliateid=426&campaign=MEXPPC-G-MOR&utm_source=Google&utm_medium=CPC&utm_campaign=MEX%20-%20Mortgages%20-%20Search&utm_content=Keyword%20-%20No%20Deposit%20Mortgages&utm_term=no%20deposit%20mortgages&utm_match=Broad&gclid=CJ27r8j-6bECFQFItAodjAkAMA, then.

[NewBiz 10]

I think you'll find 100% mortgages are a thing of the past, at least for the near future. That said I'm no longer a mortgage broker, so not totally uptodate with what's out there.

[More4loans 10]

100% are definitely a thing of the past and are unlikely to return, certainly in the short term.

[RutlandFlyer 10]

I'd be very surprised if you could find a 100% mortgage anywhere nowadays. 95% ones are creeping back into the market, but the rates are pretty terrible.

[Jeffrey Shaw 89]

100% are definitely a thing of the past and are unlikely to return, certainly in the short term.

 

I'd be very surprised if you could find a 100% mortgage anywhere nowadays. 95% ones are creeping back into the market, but the rates are pretty terrible.

So how do you account for the 100% mortgage advances offered on the websites?

[RutlandFlyer 10]

The only ones I could see from mainstream lenders were either restricted to their own existing borrowers, or required a home-owning family member to guarantee 25% of the loan. As far as I'm aware, there aren't any reputable lenders offering 100% mortgages to new customers or first time buyers.

[samp 10]

I will keep looking for a 95% mortgage or tell my son to keep saving, they really dont help the first time buyers anymore do they, its so unfair when they work and want to purchase there own instead of bidding on council propertys ( and he would only get a pokey flat anyway)

[samp 10]

The only ones I could see from mainstream lenders were either restricted to their own existing borrowers, or required a home-owning family member to guarantee 25% of the loan. As far as I'm aware, there aren't any reputable lenders offering 100% mortgages to new customers or first time buyers.

 

ive looked into the family member guarantee but you have to be 25 and hes just a year off

[Jeffrey Shaw 89]

I will keep looking for a 95% mortgage or tell my son to keep saving, they really dont help the first time buyers anymore do they, its so unfair when they work and want to purchase there own instead of bidding on council propertys ( and he would only get a pokey flat anyway)

Here's a idea. Try and find a property where the vendor (V) is a charity/trust/company, rather than individuals, and invite V to sell on a 100% mortgage-back basis. The purchaser becomes the owner but re-borrows from V (at interest) the full purchase price. No money need change hands on completion except legal fees/VAT/disbursements.