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100% Mortgages - Is this true?

Is it true that some companies are looking to offer 100% mortgages again? I read an article but doesn't appear to be any offerings or advertising from any the main lenders to back this up.

Asked on Sep 22 2011, Home Finance in Manchester | Report content

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  • Yes it's true but there is a catch. Aldermore, a relatively new entrant to the mortgage market, are offering a 100% mortgage product. However, whilst the borrower is liable for 75% of the loan that is secured against the property they wish to purchase, the remaining 25% must be backed up by a charge lodged against a separate unencumbered property owned by a relative (usually a parent).

    Answered on Sep 22 2011, Report content
  • Only for first time buyers I think.

    Answered on Sep 23 2011, Report content
  • There are actually four 100% mortgage products currently available, all aimed at first time buyers. Details can be found in this blog post.

    Web reference:

    Answered on Sep 23 2011, Report content

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