100% mortgages

100% mortgage product launched for first time buyers

First time buyers can now access 100% mortgages if they can prove a track record in renting.

A lender has launched 100% mortgages for first time buyers who have a proven track record in renting and paying household bills. This is a fantastic product for first time buyers who can afford to pay a mortgage but have not been able to save for a deposit.  Here is the brief criteria, give Mr Mortgages a call and one of our experienced advisers can discuss this with you

  • Each applicant is a first time buyer
  • Each applicant is aged 21 or over
  • If you have a deposit, it must be less than 5% of the purchase price
  • Each applicant has no missed payments on debts / credit commitments (e.g. mobile phone bill) in the last 6 months
  • You are looking to borrow up to £600,000
  • You're not looking to buy a new build flat
  • You have proof of having paid rent for at least 12 months in a row, within the last 18 months
  • You have 12 months experience paying all household bills within the last 18 months.

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