What choices can be found to first-time patrons with little or no deposit? That is the query Scott Barron of SJ Mortgages is exploring in his newest Q&A
I’ve observed Skipton has a mortgage which is deposit-free. Are there any mortgages out there which I can apply for which don’t have any deposit?
I’m struggling to save lots of up for a deposit for my first dwelling as a result of I’m throwing all my cash away renting. I don’t have any debt in any respect, apart from a pupil mortgage, and I’ve acquired a great credit standing. I’m paying £1,200 a month for hire in the intervening time. Thanks for any recommendation.
You might be appropriate Skipton does offer a 100% mortgage and it’s the solely lender which presents this kind of mortgage in the intervening time.
A 100% mortgage has its professionals and cons. One of many greatest benefits is that you just don’t have to save lots of a money lump sum for a deposit, and that is helpful for many who are already renting.
The cons are that this kind of mortgage comes with a better rate of interest, you should have elevated danger of damaging fairness and so they have stricter lending guidelines.
There are different mortgages out there the place household help you because the borrower if that’s an possibility. Be at liberty to present us a name to debate your choices in additional element.
Meet our consultants Scott Barron and Jack Tutton
Scott and Jack are co-founders of SJ Mortgages. With over 15 years business expertise and after working for giant firms, they determined to arrange SJ Mortgages with the purpose to offer their purchasers with skilled recommendation alongside a bespoke service.
Being a completely unbiased whole-of-market brokerage permits them to be utterly buyer centered and ship an excellent shopper end result. Being complete of market implies that they work with over 120 mortgage lenders and have entry to over 10,000 merchandise.
A mortgage is many individuals’s greatest monetary dedication; within the present tough mortgage market Scott and Jack are right here that can assist you navigate the method and get you the very best outcome.
Please click this link to their website to seek out extra data, entry to a calculator, blogs and to get in contact with SJ Mortgages.