London Mortgage Advice

A 100% loan covers the full value of the property, so no deposit is needed.

This is usually popular among first time buyers who otherwise would not be able to get a mortgage even though they may have sufficient income.

These mortgages are normally more costly because the lender is taking a greater risk.

Some lenders can even lend more than the purchase price if there is enough income and this extra borrowing can be used to pay for the costs associated with a mortgage and to pay for extra things like home improvements or household goods.

The 100% mortgage is not suitable for everybody’s needs and in a falling property market you may end up owing more than your house is worth – ‘Negative Equity’. You should always seek professional advice before deciding on which type of mortgage is most suitable for your needs.

Call us on 07985 901 459

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London Mortgage Advice Ltd is authorized and regulated by the Financial Services Authority for residential mortgages and non investment insurance business. As we give independent advice we can offer you either a 'no fee' option where we are paid by the lender or you can pay our total fees. Typically this will be anywhere between 0.3% and 1% of the mortgage amount (based on a loan of £100,000 this would result in a fee of between £300 and £1000). In this instance we will rebate to you any commission we receive from the lender. THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.