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A brand new mortgage aimed at helping first time buyers get onto the property ladder has just been released!
A new mortgage called a “track record” mortgage has just today been made available to our expert, in-house mortgage advisers at Hannells.
Designed to help those that have been renting a property and have been struggling to save enough for a deposit, the mortgage essentially looks at your track record of rental payments as evidence of the borrower being able to afford the monthly payments.
Whilst it’s being called a “track record” mortgage, essentially it’s a 100% mortgage as there’s no deposit required.
Plus, our sources inform us that this could be the first in what could be a number of new mortgages released with lenders prepared to lend on 100% of the amount required.
Great news for anybody that’s looking to move over the next few weeks.
As with all mortgages, there will be criteria that you’ll need to meet, such as:
> You’re a first time buyer
> You’ve been renting for 12 months or more
> You don’t have any missed credit commitments in the last 6 months
But if you’ve been wanting to get on to the property ladder and meet the criteria above, you should DEFINITELY get in touch with Lauren or one of our other friendly, expert mortgage advisers to find out more as this could mean the start of an exciting new chapter for many first time buyers who had been struggling to save for a deposit.
For more information and to find out if you qualify for this mortgage, complete the short form below and we’ll be in touch – or call in to any of your local Hannells branches!
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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.