100% guaranteed mortgage

Can you still get a 100% mortgage?

Despite what most people believe, 100% mortgage are still available today, however, they currently are only available on shared ownership properties.
A shared ownership property is where you purchase a share in a property rather than a normal full purchase, typically you would pay rent for the remaining share to a local authority or housing association.
This link explains shared ownership in more detail:

https://www.moneyadviceservice.org.uk/en/articles/shared-ownership-housing-schemes-explained
For example, you purchase a 50% share in a property for £50,000. The open market full value of the property would be £100,000.
In this scenario some lenders would consider lending the full £50,000 required for the purchase of the shared ownership property allowing you to buy with no deposit.
Like any purchase we would recommend you thoroughly explore all of your options before commuting to a new mortgage.
If you would like any further information on buying a shared ownership property with no deposit contact us today for a free quotation on 01604 328 091.

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