100% Mortgages for First Time Buyers


100% mortgages mean that you do not have to give a deposit to buy a home - you can borrow 100 per cent of the property's value. In the current mortgage market these deals are hard to come by because they are percieved as a higher risk by mortgage lenders.

 

A number of lenders are offering 95% loan to value deals for first time buyers - the more deposit you can put down the better mortgage deal you are likely to get - see below for our selection of high loan to value mortgages. Please see the help to buy mortgage section for details of mortgages available which are partly subsidised by the Government.

About you
Your income
Partner income
Income = £70,000
This calculates your maximum loan
Your property
Property value
Your deposit
Borrow = £180,000
Your loan to value (LTV) = 90%
Your mortgage
Mortgage Type
Payment Method
Payment Term
LenderInitial RateRate TypeInitial Monthly
Payment
Cost For
Comparison
Max LTVTotal FeesEnquire
Post Office3.65%Fixed
Aug-2016
£915.67
4.5%
90%£1265
HSBC3.79%Fixed
Oct-2016
£928.62
4.1%
90%£1172
Call direct
0800 077 4336
HSBC3.79%Fixed
Oct-2016
£928.62
4.1%
90%£1672
Call direct
0800 077 4336
Post Office3.99%Fixed
Aug-2017
£949.12
4.5%
90%£1265
HSBC4.29%Fixed
Oct-2016
£978.20
4.2%
90%£1172
Call direct
0800 077 4336
HSBC4.29%Fixed
Oct-2016
£978.20
4.1%
90%£672
Call direct
0800 077 4336
HSBC4.29%Fixed
Oct-2016
£978.20
4.1%
90%£472
Call direct
0800 077 4336
Post Office4.39%Fixed
Aug-2016
£989.30
4.6%
90%£270
Post Office4.45%Fixed
Aug-2017
£995.40
4.6%
90%£270
Post Office4.45%Fixed
Aug-2019
£995.40
4.6%
90%£1265
12345

Advantages of a 100% mortgages for first time buyers include:

 

  • 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

 

See the tables for the latest mortgage deals or fill in the form above for personalised advice and quotes.

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