100% LTV RemortgageIs a 100% LTV Remortgage really the best option for you?

Do you need to remortgage for the full value of your property? Due to recent clampdowns on borrowing, 100% LTV remortgages are now extremely difficult to find, and the high-LTV remortgages that are available will have much stricter lending criteria attached. Many say that the near-extinction of the 100% LTV remortgage is a positive thing, because it promotes more realistic and responsible borrowing. However, it does come as a blow to those who would previously have been able to free up substantial equity in their home. More info

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100% LTV Remortgage Facts

  • Eliminate initial costs. 100% LTV remortgages are for people with little savings. This type of remortgage covers the entire cost of purchasing the property, and it eliminates the need for a deposit.  100% LTV remortgages are now almost impossible to find.  This is as a result of tighter lending criteria following the recent property market crash.
  • One-off fees are still applicable. Although no deposit is required, one-off fees like application and broker fees, stamp duties, and legal fees are not covered.
  • Higher than average interest rates. 100% LTV remortgages carry a higher than average interest rate because the lender is taking on a large amount of risk.
  • Could result in a negative equity situation. if the property market crashes (as it did recently), you may be trapped in a negative equity situation because you will have borrowed more money than your property is now worth.

Remortgage NEWS & ARTICLES

100% LTV Mortgages Explained

100% LTV Mortgages Explained

21 Jun 2009
To get the best possible deal on a home loan, you would need to put up some of your savings against the loan would enable you to save money on interest payments.  Your credit rating would also affect the amount that you could borrow.

100% LTV Mortgages and Remortgages

100% LTV Mortgages and Remortgages

21 Jun 2009
If you're looking to cover the entire cost of purchasing a home, you may want to consider a 100% LTV mortgage or remortgage. While there are some inherent downsides to this type of loan, it may be right for you.

The Remortgage Process

The Remortgage Process

26 Jul 2007
The remortgage process does not involve getting a second mortgage or moving to a different home. In essence, you are just replacing your original mortgage with another from a different lender.

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Your home may be repossessed if you are unable to keep up repayments on your mortgage.