100% mortgages deals on the rise

100% mortgages deals have risen, many lenders including Abbey, Ipswich Cheltenham & Gloucester and other small local building societies are now in the frame.

 The risk pay more for your property and the market slumps, you could end up owing more than the value of the house. Known as negative equity. Halifax reported a 0.6 percent drop in house prices last month.

Many lenders have a higher lending charge which could be added to the 100% mortgage some lenders don’t charge this, check with your broker  which mainstream lenders dont’t.

100% mortgages lenders are still confident there is still a strong market out there for this type of business. People looking to lend a 100% mortgages product should always go through a budget planner with their broker to ensure that they can afford the payments now and in the future.