100% Mortgages for First Time Buyers
100% Mortgages for First Time Buyers
100% mortgages mean that you do not have to have a deposit to buy a home - you can borrow 100 per cent of the property's value.
Advantages of a 100% mortgages for first time buyers included:
- Being able to buy a house even if you are on a tight income and cannot save a deposit
- Not having to put in a lot of cash upfront, saving it for other things such as improvements to the house
Disadvantages of 100% mortgages include:
- Few lenders offer them so it is not competitive and higher interest rates are often charged
- You will be charged a bigger Mortgage Indemnity Guarantee (MIG) premium.
- If the value of the property goes down, you could go into negative equity, when you owe more than your property is worth
There are a number of 100% mortgages to choose from - to see the best rates currently avilable check out the table below and get more information, free quotes and advice by filling in the enquiry form.
|
4.49%
| Northern Bank (NI) | Mar 2010 | Variable |
4.60%
| 100% |
More
|
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4.49%
| Northern Bank (NI) | Mar 2010 | Variable |
4.70%
| 100% |
More
|
*for existing customers only
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
For Quotes & Advice on Mortgages for First Time Buyers complete our mortgage quotes enquiry form.