Representative Example: Mortgage of £100,000 on property valued at £200,000 over term of 25 years. Rate fixed for 10 years after which reverts to lender variable rate of 5.24%.
If you have at least a 10% deposit to put down on a house then the mortgage options available to you are fairly wide as many lenders have in recent years relaxed their lending criteria.
If you have less than 10% to put down then options become a bit more limited although since the end of 2013 many lenders are considering borrowers with low deposits.
Whether you will be accepted by a lender will depend. there are a number of factors that come into play when a lender is considering providing you with a mortgage.
Obtaining financial advice from a qualified mortgage adviser will help you through the maze and potentially save you a lot of time.
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