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  • Writer's pictureAga - Mortgage Broker

No deposit mortgage available now!

YES, IT IS POSSIBLE. TODAY A NEW PRODUCT HAS BEEN INTRODUCED FOR A 100% MORTGAGE FOR FIRST TIME BUYERS

This, however, is not a product for everyone…

Main criteria:

  • each applicant must be a first time buyer

  • each applicant must be 21 years old or older

  • the same people who are and have been renting in the last 12 months must go on the mortgage application

  • applicants must have proof of paying rent for at least 12 months out of the last 18 months

  • applicants must also have been paying the household bills in the 12 months out of the last 18 months

  • each applicant must have good credit history with no missed payments/direct debit commitments in the last 6 months

  • the monthly cost of mortgage must be equal or less than average of the last 6 months rental cost

  • deposit must be less than 5% - can be £0!

  • maximum loan size must be £600000

  • not available on new build flats

  • applicants must pass lender's affordability test and credit score check

This product may be a great help for many first time buyers but any buyers who want to check if they qualify, should first speak to a mortgage adviser before making offers on properties Buying a house requires planning ahead and strategy and a good mortgage adviser will help you prepare for this step Contact us if you are planning to buy your first home.



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