100% Mortgage

Mortgages For First Time Buyers With No Deposit

Call Aldermore FREE on: 

0333 920 4975

To discuss 100% mortgage options for first time buyers

Aldermore Mortgage Deals

Provider

Type

Initial Rate

Initial Term

Overall Cost for Comparison

Max LTV*Product Fee 
Fixed

5.18%

Reverts to 5.48%

2

Years

5.70%

100%

YesMore Info >
Little or no deposit required, parent or grandparent provides a guarantee secured against their residential property.Early redemption charges may apply. Overall Cost for Comparison 5.70% APRC. This is the cost of the mortgage over the full term.
Fixed

5.18%

Reverts to 5.48%

3

Years

5.70%

100%

YesMore Info >
Little or no deposit required, parent or grandparent provides a guarantee secured against their residential property.Early redemption charges may apply. Overall Cost for Comparison 5.70% APRC. This is the cost of the mortgage over the full term.

Representative Example:


A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.


The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).


In this example the overall cost for comparison is 3.7% APRC representative.


YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

For first or second time buyers struggling to get enough cash together for the deposit on their new home, a 100% mortgage could be a lifeline.


Aldermore's Family Guarantee Mortgage is designed for first or second steppers who have little or no deposit but do have a parent, step parent or grandparent able to provide a guarantee secured against their residential property.


Compare 100% Mortgage Rates

 

If you are looking for a 100% mortgage, you are likely to find it fairly difficult to find a lender willing to offer such a high loan to value ratio (LTV).  However, there may be a number of other options worth exploring that could help you find a suitable mortgage deal.  You may like to consider the following:

 

  • A limited number of  lenders may offer up to 100% LTV mortgages based on your situation.
  • If you have a relative who would be willing to act as a guarantor on your mortgage, some lenders may offer you a mortgage.
  • By sharing your mortgage with a partner, relative or friend, you could also share associated costs.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The above mortgage products highlighted on this website are available directly through lenders who will be able to provide further information about the product you are interested in. If you are unsure about what mortgage product is suitable for you, we suggest you speak to an independent mortgage broker