95% Mortgages

This is a loan which covers 95% of the value of the property you are looking to buy. These mortgages are much harder to find than others. Asking for such a large mortgage will usually mean that you need a very good credit rating.

Is it right for you? Here's what you need to weigh up..
Pros:

This mortgage means you can purchase a house with a much lower upfront deposit

Cons:

With such a low deposit and large mortgage, you are at risk of your home falling into negative equity. Because of this risk, lenders charge relatively high rates

If the interest rates fall whilst you’re on a fixed rate mortgage, you will not reap the benefits.


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