No Deposit First Time Buyer Mortgages

No Deposit Required

Thats right, one of our lenders, Skipton Building Society have this week launched a new mortgage, where First Time Buyers may not need any deposit at all!

Naturally, there are 'hoops to jump through' but if you would like more information, check you match the criteria below and then get in touch so you can speak with one of our experienced, whole of market advisers local to you.

Who is eligible?

• Each applicant is a first time buyer
• Each applicant is aged 21 or over
• If they have a deposit, it must be less than 5% of the purchase price
• Each applicant has no missed payments on debts / credit commitments (e.g. mobile phone bill) in the last 6 months
• They are looking to borrow up to £600,000
• They meet the household-to-household criteria (see below*)
• They're not looking to buy a new build flat
• They have proof of having paid rent for at least 12 months in a row, within the last 18 months
• They have 12 months experience paying all household bills within the last 18 months

*this means as an example the same two renters, are to be the same 2 people applying for the mortgage.

Mortgage Force Cambridgeshire, Mortgage Force King’s Lynn & Mortgage Force Chatteris are trading styles of Cozens & Dean Limited (Financial Services Register number is 301816), 17 Elwyn Road, MARCH, Cambs PE15 9BT who is authorised and regulated by the Financial Conduct Authority.

YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP REPAYMENTS ON YOUR MORTGAGE OR OTHER LOAN SECURED UPON IT.

Think carefully before securing other debts against your home repaying your debts over a long period can reduce your payments but could increase the total interest you pay.

There may be circumstances where we need to charge a fee. In these instances we will notify you at an early stage which could be up to £499 on legal completion.

Some products we offer are not regulated and that the protection in place for regulated loans do not apply