100% Mortgage - How do you get it? For the first time since 2008 you may now be able to sign up to Skiptons 100% mortgage deal. This no deposit deal with no requirement for backing from a guarantor. If you arefirst time buyer that has a proven record of paying rent and household bills for at least 12 months on time, you may be eligible for this great deal. The available deal is a fixed term deal for a 5 year period. It is the same as other fixed deals but it requires no deposit. If you already have a deposit saved up, donҴ worry, you can choose one of the other mortgage options available out there. What conditions are there? You monthly mortgage payment must be lower or equal to the average rental you were paying on your rental property. For example, if your rent was on average 㷵0 over the last 6 months, then your mortgage payment must be 㷵0 or lower. The maximum term for the loan is 35 years. Who is the mortgage for? This new 100% mortgage is aimed at people who are currently renting and are struggling to save for a deposit to get onto the housing market. Costs of rent and house prices are continuing to increase, and we all know you are better investing in your own home if you are able to rather than renting a property. Are you eligible? Each applicant must be aged 21 or over If you have a deposit, it must be less than 5% of the property price Each applicant has no missed payments on bills or debts in the last 6 months You are borrowing up to 㶰0,000 You meet the household-to-household criteria You are not buying a new build flat You have proof you have paid rent for 12 consecutive months within the last 18 months You have at least 12 months experience of paying rent and household bills in the last 18 months What does household-to-household mean? Household-to-household means that the people buying the house are the same people who have met the criteria and were renting together. If you were renting with someone and they are not applying for the mortgage with you, you will have to prove that you were responsible for the rest and household bills. Any joint applicants that were renting seperately are eligible to apply as long as they can both prove the above criteria individually. Can I afford it? To get an idea if you are eligible for the 100% mortgage, try ourmortgage calculator tool. If you have any questions or are unsure then please give us a call and speak to one of our mortgage advisors. DONҔ FORGET ֠We are a FEE FREE Mortgage Advisor, so our service will not cost you a penny! Mortgage Calculator Tool Talk to a Mortgage Advisor Have a chat to one of our friendly team to see if you can get the NEW 100% Mortgage from Skipton TALK TO US