Opinions on 100% mortgages

There are the odd lenders offering 100% mortgages.
What are your opinions on them?
Two lenders launch 100% mortgages - should you buy a home with no deposit? - Which?

There are the odd lenders offering 100% mortgages.
What are your opinions on them?
Two lenders launch 100% mortgages - should you buy a home with no deposit? - Which?

Lenders are trying to boast the housing market with things like this Emma so everything needs to look at it and then take any legal advice possible before they go down the no deposit route.... It's sounds like a good idea for those who are perhaps struggling to raise a big deposit for a house but tred with caution. I don't think everyone can buy a house outright so they have to take mortgage out.
If you can afford to buy a house without a deposit then do it but how many people have large deposits available as it takes a while to save it up so I would suggest look into something like this very carefully and take all legal advice available before committing.
Make sure that they can afford to pay for the house every month as providers won't hesitate in repossessing it if they can't pay the monthly mortgage.
But otherwise beware of any exit fees if you were changing mortgage providers

100% interest on mortgages is too high.
It shpuld be capped at 40% like it is for overdrafts.

TBH i dont think it is a good idea.
I know that the reason behind it is to boost the housing market, and to try and help people who are struggling to get on the housing ladder (who may be renting etc).
But i dont think they should be offered. There are too many things that can go wrong. I think that should be a minimum of 5 or 10% deposit.

There are the odd lenders offering 100% mortgages.
What are your opinions on them?

Two lenders launch 100% mortgages - should you buy a home with no deposit? - Which?

TBH i dont think it is a good idea.
I know that the reason behind it is to boost the housing market, and to try and help people who are struggling to get on the housing ladder (who may be renting etc).
But i dont think they should be offered. There are too many things that can go wrong. I think that should be a minimum of 5 or 10% deposit.

I think there should be a minimum of 40% deposit.
That way the bank is safe from not being able to recover the debt.

My Mum is a mortgage advisor.
Those lenders will have a very strict criteria and your credit score has to be immaculate.
Skipton Building Society also does 100% mortgages and my Mum has experience with them.
https://www.skipton.co.uk/mortgages/first-time-buyers/track-record-mortgage

I don't agree with it either but was only making a point on how I see it.
Exactly things can go wrong with it as you can lose the house if you don't keep the payments up as I can imagine monthly payments on a 100% mortgage will be expensive.

40% deposit may be a bit high. I think minimum 10% deposit. But 100% deposits- i dont like the idea of at all.

Why do you think 10% rather than 40%
In my experience 40% hasn't been too high and it meant I got a lower rate, as its not risky compared to recklessly borrowing.