There are a number of reputable 100% mortgage lenders in the UK, and for those looking for a one hundred percent mortgage without the need to put down any deposit on a property there is plenty of choice available. These lenders specialize in this type of mortgage, and whether you are a first time buyer, a home mover, a commercial or buy to let purchaser, or even a bad credit consumers, you may be able to find the perfect mortgage from one of the 100% mortgage lenders currently in operation in the UK.
With such a wide choice of lenders offering this type of mortgage, most people can afford the luxury of being able find the perfect deal in terms of repayment periods, interest rates, and income multiples. Those with a poor credit rating may find that they are limited with this type of mortgage, as many 100% mortgage lenders will only offer this type of mortgage to those with good or excellent credit.
There are some very good deals available from 100% mortgage lenders these days, and getting a 100% mortgage quote can be easy and convenient when you go online. This will enable you to browse and compare the different deals available from a range of lenders, and you can make a more informed decision when it comes to finding and applying for the right one hundred percent mortgage for your needs.
Once you have determined which 100% mortgage is right for you, you can calculate how much you would have to repay each month based on the amount you wish to borrow, the interest rate charged by the lender, and the repayment period that you select. You can then complete the applications quickly and conveniently online, and you will receive a quick or even an instant decision from many lenders.
Being able to get a mortgage without having to pay a deposit means that you can use any savings you have to buy furniture, pay stamp duty and legal fees, or to improve the property that you are purchasing, easing the financial strain that often comes with property purchasing – and this is particularly use for first time buyers who may be starting from scratch and may need initial funds in order to set up home. In some cases you may even be able to borrow more than one hundred percent of the property value, which gives you additional funds in the event that you need to carry out work on the property.