100 percent mortgagesThere are few building societies now offering 100 percent mortgages. The people claiming to be 100 percent mortgage brokers are simply applying to these institutions. Two of these are the Aldermore building society and the Marsden building society. However there are conditions. A family member has to act as a guarantor and they have to have a mortgage themselves, or paid off a mortgage through the building society, so naturally it is a very limited product. By following the links on this page, you should find your way through to either a broker, or to one of the societies themselves where you can get further information or apply online. |
You may find that the best way to fund an purchase at auction is to use a standard bridging loan. You could find that applying for one hundred percent long term financing to be a complete waste of time, unless you have a family member that is an account with one of the building societies. We strongly suggest applying online for auction finance alongside checking to see if you qualify for a 100% mortgage.
Mortgage brokers
The mortgage broker may be able to source you a 90% mortgage as those who claim to be brokers of 100 percent mortgages are using the product to offer you other products which they know they can source. In the time it takes, the property you have seen listed at an auction could have gone. Bridging loans used as auction finance are quicker and easier and once in place gives you the time to find alternative financing or to sell other properties you may hold the deeds on.