The 100% mortgage product hit the market a few months ago and we’ve had many questions from clients, mainly from people wanting to find out if they are eligible or not. Here we list some of the criteria for the product
Securing a ‘mortgage in principle’ is a crucial first step in your home-buying journey. A ‘mortgage in principle’ is a certificate from the lender on how much they would be willing to lend you.
In order to create these results, we have had to make a few assumptions:
1) Interest is charged monthly.
2) Interest rate stays the same over the term.
3) If you selected ‘Interest only’, we assume your standard monthly payment doesn’t decrease even if you pay off some of the balance.
