One Hundred Percent mortgage
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Us
A
hundred percent home loan mortgage may potentially save you
a lot of money whether it be used for purchase or
remortgage
but you may need help to guide you. One
must be cautious with borrowing 100% of the value of the property
or over because if you have financial problems then there
potentially is no equity within the property to assist you
and if you are consolidating unsecured debt you will be converting
to secured debt over normally a longer term on your home.
As
with all lending discussions care must be taken with this
product as it has to suit your current and future needs. For
example what would happen if you were to lose your job, got
divorced or you became sick long term. Have you considered
that house prices could go down which is exactly what occurred
in the UK in the early 1990s. The situation of falling house
prices and the need to move home would be very daunting with
a recent 100% loan where there is no equity in the property
or worst still negative equity. How would you cope?
With
a product that needs a lot of respect and understanding, this
is where a
qualified experienced broker potentially may advise you of
the pitfalls and issues to consider. Unfortunately too many
people are determined to borrow past they safe margin and
incur too much debt that cannot be serviced in the future,
what looked like a dream property can turn into a nightmare
if care is not taken.
Contact
Us
Free
Phone Help-Line 0800 781 0414
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