⭐️⭐️⭐️⭐️⭐️ Mortgage and Protection Adviser 🏠Manchester Mortgage Adviser covers all of UK 🌍 Whole of Market ☎️ 0161 669 4439 📞 📟🧍♀️
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ALT An image of a key attached to a house-shaped keyring, with the HM Land Registry logo and the caption "Remortgaging soon?"
ALT Skipton launches UK's first 100% no-deposit mortgage since 2008. Martin Lewis says it could be a 'sensible' option for some renters.
ALT You need to be a first-time buyer 21 years of age or above. You need to have paid rent and bills in full (and on time) for at least 12 months. You can't have missed any other repayment commitments over the past six months - such as Netflix subscriptions and mobile phone repayments. You aren't looking to buy a new-build flat.
ALT There is a catch... You can only borrow the equivalent of, or less than, what you pay on rent each month. The image contains a table that shows the maximum mortgage each monthly rent amount would get you.
ALT Need-to-knows. The interest rate on Skipton's 100% mortgage is 5.49%. That's almost £3,000 more expensive than the top 95% mortgage. As well as being more expensive, they also come with a greater risk of negative equity (where the value of your mortgage becomes more than the value of your property - which might happen if property prices were to drop significantly).
