Choice Mortgages have various schemes that incorporate 100% mortgages for those not able to raise a deposit with a lender. In certain circumstances, we can even obtain 125%.

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Before you buy your first home, you may not have saved up enough money for a deposit. Remember that most mortgage lenders will only lend up to 90% of the cost of the home. You could wait until you have access to 10% of the cost of the property that you want, or you could try and get on the housing ladder now, before property prices go completely out of your reach. This is where a 100% mortgage will come in useful.

There was a property crash at the end of the 80s, after which lenders became very wary of offering 100% mortgages and loans, as deposits were needed to give customers a buffer against going into negative equity. As the nineties progressed, lenders started to offer 100% mortgages again, and some will even offer up to 125% of the property's price, to enable you to cover your costs and maybe furnish your home.

You may have to pay a slightly higher interest rate for the 100% mortgage loan, which covers the lenders for the risk that they are taking. You may also have to pay a high rate of interest due to the lack of competition in the market, with only a few lenders offering 100% mortgages.

100% mortgages are good for people who can't afford to buy a house without already owning one. If you have just graduated, and are saddled with debts, a 100% mortgage which buys a property as well as consolidating your debts. is a great option.