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Industry Standard
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Industry Standard
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Industry Standard
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Is there such a thing as 100% lending?

Is there such a thing as 100% lending?

The short answer is No. Lenders no longer offer 100% mortgages.

You need at least 5%

Mortgages are a percentage of the property valuation or the amount you actually offer for the property, whichever is the lower. You’ll therefore be providing at least a 5% deposit (gifted or savings). However, occasionally, a few lenders may offer special products that mean you may not need to provide a deposit. This is facilitated by family members depositing money into an account with that lender which is held as collateral for a specified period of time. The family members do not have access to the money and it is returned to them once the specified period ends and any conditions applied have been met.

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