Home

Mortgage On Line Quote

Contact Us

Endowment Alert

Mortgage Repayment Insurance

Home Insurance Quote

List of Lenders

Mortgage Calculator

Useful Information

Jargon Buster

 

125 per cent Mortgages and Remortgages are no longer available

125% mortgages and remortgages have been withdrawn from the mortgage market place after the recent issues surrounding the Northern Rock.

Click Here for another type of mortgage quote to be emailed back to your PC

 

 Up until the spring of 2008 these mortgages were available to first time buyers, next time buyers or someone wishing to release the equity in their home, by remortgaging, without moving house.

It enabled a home owner to consolidate debts, pay off credit card bills, or raise money for any legal purpose.

First time buyers could borrow enough to buy the property, pay the solicitors bill, stamp duty, and still have enough to decorate or furnish.

Made up of a maximum of 95% secured against the property (a mortgage) and up to 30% (or 30,000, whichever is the lower) as an unsecured loan, but with the same mortgage interest rate applied across both parts, they proved exceptionally popular.

Main Points
The mortgage was flexible to allow overpayments without penalty
There was NO Higher Lending Charge to pay
Issued by Northern Rock
Daily interest calculations
 

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage

On the negative side
The interest rate was usually higher than on sub 100% mortgages.
You would be borrowing more than the value of the property (a maximum of 95% as a mortgage, and a maximum of 30% (or 30,000 whichever is lower) as an unsecured loan.


CLICK HERE
and send your details for a mortgage quote to be e-mailed back to your computer for printing off - it's free

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage

Mortgage Repayment Insurance

Equity Release Mortgages