Skipton Building Society launched a 100% LTV mortgage product yesterday.
The product is on a 5 year fixed rate starting at 5.49 % over a maximum term of 35 years.
The lenders criteria... they are not for everyone.
Each applicant must be a 1st Time Buyer.
Each applicant must be aged 21 or over.
The same people renting now must be the same people on the mortgage.
Must have proof of having paid rent for at least 12 months in a row, within the last 18 months.
Must also have 12 months experience paying all household bills within the last 18 months.
Each applicant will have no missed payments on debts / credit commitments in the last 6 months.
The monthly mortgage payment must be equal to or lower than the average of the last 6 months rental cost.
The deposit must be less than 5%.
Maximum loan size £600,000.
Not available on New Build flats.
If you think you may qualify please get in touch. Initial enquiries are free and are no obligation.
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