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120% Mortgages and Remortgages have now been withdrawn except for existing borrowers of

 certain lenders

 

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 squeeze.

 

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.