Home 100% and 125% Mortgages and Remortgages are no longer available

100% mortgages and remortgages were common place for a number of years. However, 125% mortgages and remortgages were also available through the same lender. This meant you could now borrow up to 125% of the property value. This was available to first time buyers, next time buyers or someone wishing to release the equity in their home, by remortgaging, without moving house.
First time buyers could borrow enough to buy the house, pay the solicitor, stamp duty, and still have enough to decorate or furnish.

The mortgage was flexible to allow overpayments without penalty
There was NO MORTGAGE INDEMNITY to pay
3rd largest U.K. High St lender
Daily interest calculations
NO BROKER FEES !
DECISION IN PRINCIPLE WAS AVAILABLE AVAILABLE IN MINUTES

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage

On the negative side
The interest rate was usually higher than on sub 100% mortgages.
You would have been borrowing more than the value of the property (a maximum of 95% as a mortgage, and a maximum of 30% (or £30,000 whichever was lower) as an unsecured loan.


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Your home may be repossessed if you do not keep up repayments on your mortgage

Mortgage Arrangers, Equity House, 225 Hatherley Road, Cheltenham Gloucestershire GL51 6HF

Tel/Fax: 01242 248181