First Time Buyer 100% Mortgage UK launched 2023
Channel: Niche
Date: 2023-05-09

First Time Buyer - 100% Mortgage has been launched. In this video mortgage expert talks about some of the first time buyer mortgage eligibility requirements to get a 100% percent Mortgage with no deposit contribution needed from applicants.

For an example of product rates and fees please click here to read my full blog on the First Time Buyer 100% Mortgage UK launched.
https://www.nicheadvice.co.uk/first-time-buyer-100-mortgage-uk-launched-2023/

00:00 Introduction
00:53 Name of The lender
01:21 Eligibility Criteria
03:38 What I think about the product
04:50 Rates & Fees
05:16 Lender affordability rules
05:50 Things to consider
07:07 Outro

Key eligibility criteria to get a First Time Buyer 100% Mortgage are below

·    Each applicant must be a First Time Buyer to get a 100 percent Mortgage
·    Each applicant must be aged 21 or over to get a 100 percent Mortgage
·    The same people who are renting now (and have been for the last 12 months) must be the same people on the mortgage (Exceptions apply - see our website for more information)
·    Must have proof of having paid rent for at least 12 months’ in a row, within the last 18 months
·    Must also have 12 months experience paying all household bills within the last 18 months
·    Each applicant will have no missed payments on debts / credit commitments in the last 6 months
·    The monthly mortgage payment must be equal to or lower than the average of the last 6 months rental cost
·    The deposit must be less than 5% to get a 100 percent Mortgage
·    Maximum loan size £600,000 to get a 100% percent Mortgage
·    Not available on New Build flats 

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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. AS A MORTGAGE IS SECURED AGAINST YOUR HOME OR PROPERTY, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS.

The content of this Video does NOT constitute giving advice it is purely designed for general information purposes only. The qualification for a mortgage will depend on your own individual circumstances, and your case should be fully discussed with a Professional Mortgage Broker before you apply. Niche Advice are Independent Whole of the Market Mortgage Broker dealing with different types of clients buying properties all across the UK.

Some Buy to let, and commercial mortgages are not regulated by the Financial Conduct Authority.  

Niche Advice Limited is a Credit Broker and does not lend money directly to clients. Niche Advice Limited is authorised and regulated by the Financial Conduct Authority. FCA No: 750263. The Financial Conduct Authority does not regulate Commercial Buy to Lets, including some Bridging Loan products.

#100percentMortgage #firsttimehomebuyer #100loantovalue