100 per cent mortgages - only if you can afford it
www.moneynews.co.uk > Mortgages > 100 per cent mortgages - only if you can afford it
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Money News |
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100 per cent mortgages - only if you can afford it
Tue 20th Feb 2007
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Ray Boulger from UK mortgage advisory group John Charcol made his comments in the wake of figures that show house prices rose in 2006 by around an average of £14,000.
By taking out a 100 per cent mortgage to pay for a property, first-time-buyers will especially be affected by the housing market growth as they will ultimately need to take out a larger loan as well as coping with higher interest rates.
Mr Boulger said: "If you don't have a deposit then essentially you have little choices when it comes to buying property. 100 per cent mortgages are a way round this and help to get you onto the property market."
He added that a 100 per cent mortgage would suit those people who believe that property prices will increase, even if the rise is only "modest".
Related News : Mortgages |
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