120% Mortgages and Remortgages have now been withdrawn
except for existing borrowers of
Cheltenham and Gloucester (which
includes the group Lloydstsb) and Halifax Bank of Scotland etc. will
offer 120% mortgages to their exiting borrowers only. Maybe they will
expand this to new borrowers as time goes by, but not at the time of
going to press.
Once extremely popular among UK mortgage borrowers,
the Northern Rock 120% mortgage and all the others like it, have now been taken off the
mortgage market amongst fears of negative equity and a cyclical credit
There were many borrowers that took 120% mortgages and benefited from them, but there were also borrowers that
overstretched themselves and are now facing a financial crisis as the
interest rates go up and the cost of living accelerates.
However, although mortgages are still available they
are not so easy to obtain and one of the spin offs is the talk off mass
redundancies in the mortgage industry. The UK is still suffering a lack
of affordable housing and this situation is not likely to change soon.
Exactly how this will eventually be reconciled is a topic of discussion
at many a dinner party.
In the meantime, if you need a mortgage or remortgage
and could use the help of an updated mortgage data base to find the best
deals, use the link below.
Click Here to get
a mortgage broker to help you find the best, and latest deals for you.
Think carefully before securing other debts against
your home. Your home may be repossessed if you do not keep up repayments
on your mortgage
No information on this website is intended to constitute advice.
This site contains a summary of the information relating to the
products and is not intended to promote any specific mortgage or
insurance product or provide mortgage or insurance advice. It is for
information purposes only.