In a suprising turnaround of policies mform.co.uk ( an independent and impartial resource for mortgages in the UK ) has announced that lending institutions in the UK have actually increased the number of 100 percent mortgages available to UK borrowers.

It will come as a shock to many people that this should occur in the face recent developments in bad credit markets in the US which have had implications to the UK mortgage market.

It has been reported that the number of available 100 percent mortgages available to connsumers has risen by over 70% over the last 6 month period.. At the same time, of course, borrowers are reminded that the more you borrow the more you will repay and that the more unlikely the deal available, the more expensive in the long term it is likely to be.

First time Buyer are to cash in on the over stretched Buyer to Letters.

There has been a huge increase on repressions of new build flats purchased by Buy to Lets. Most have seen their property price plummet by over 40%

There have been examples where flats built in Gravesend two years ago sold for £200,000 which can now be purchased for around £120,000 as desperate Buy to Letters  try to offload them form their portfolio.
Originally purchased off plan; with some developments consisting of more than 75% Buy to Let owners, the market has been flooded with rental flats, which have been empty which the owners try to find people to rent them. If they are lucky enough to rent them out, the rental income doesn’t cover the mortgages. Leaving the Buyer to lets out of pocket.

There has been a huge increase of new builds being repossessed that are now being sold at Auction
Savvy First Time Buyer ‘s are no able to cash in on the falls and snap up some bargains at Auction
See our list of Auction websites here.

If you’re looking for a first time buyer mortgage apply here.

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.

Impaired, sub prime, adverse & non conforming. These are the different names that are banded around by brokers and lenders to describe bad credit mortgages.

They may have a bad credit mortgage because of problems in the past due to defaults, county court judgements (CCJ’s) mortgage arrears an individual voluntary arrangement (IVA) or even bankruptcy.

How ever you name its whats happend to your credit file that matters. If you are applying for a bad credit mortgage you need the facts. Check your credit file see what is on it. Then get a broker to explain what your best options are. 

Bad credit mortgages are classified as a higher risk to the lender. Now days there are plenty of options to independent brokers. Many deals are not too dissimilar to the high street rates dependent on credit rating and nature of bad credit.

Then we have light, medium & heavy adverse the terminology used to split bad credit mortgages into risk categories.

New investors interested in buying 100% mortgages lender Northern Rock have pushed the share price up 10% today. The two new names in the frame are Blackstone and Apollo management.

The international credit crunch that which affected 100% mortgages lender Northern Rock was caused by the collapse of American bad credit mortgages lending market.

100% mortgages lender share price had plunged as much as 80 percent after the lender was bailed out by the Bank of England in September.

Takeover approaches could prompt an auction for the ailing 100% mortgages lender, where the customers last month rushed to withdraw their savings in a crisis sparked by the collapse of the US bad credit mortgages sub-prime market.

The media on Sunday reported that US financial giant Citigroup Incorporated was set to lend 100% mortgages lender Northern Rock up to 10 billon pounds to help potential buyers finance the purchases.