UK Lenders Are Back with 100% LTV Mortgage Deals

UK banks and building societies are back with 100% loan-to-value mortgage deals for first-time buyers.

UK first-time buyers will certainly be happy to know that 100% loan-to-value (LTV) mortgages are back on the British market.

Aldermore, a private bank that entered the UK market 2 years ago, recently launched a Family Guarantee mortgage. It is a 3-year fixed mortgage offered at as low as 6.48% for borrowers aged 25 and up, who can get their relatives to guarantee the loan.

The maximum loan size is £250,000. The booking fee for a loan is £299, and the completion fee is £999.

The borrower's relatives (parents or grandparents) need to secure the loan against their property for the amount of the loan of 75% and up.

Aldermore offers its new mortgage deal for first-tome buyers through mortgage advisors and brokers.

Three more UK banks are also back with 100% LTV mortgages. Those are Northern Bank, Marsden and Tipton & Coseley building societies.

Probably, other lenders will also introduce such deals in the near future.

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