Just 4 Mortgages

Small Deposit Options

Guide

Do you have a small deposit saved and believe you cannot get on the property ladder? This is NOT true!

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There are many options out there for first time buyers who have just a small deposit saved. Our advisers can find the best option for you and your circumstances, however here are a few options available to you:

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-Track Record 100% Mortgage - This scheme allows people who are currently renting to purchase a home with no deposit! There is a very strict criteria to follow and currently only one lender offering this scheme.

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-Gifted Deposit - Lenders can accept a deposit that is gifted to you by someone else for example, a parent, grandparents etc. This must be a gift and they will need to sign a gifted deposit letter to confirm they do not expect any repayment or iterest in the property.

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-95% Mortgages - You can contribute a 5% deposit of your purchase price for example, if you are purchasing a property for £180,000 your deposit can be £9,000. A few lenders offer this option however each lender has a different set of criteria.

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-Shared Ownership - You can buy a share of a home such as 25% or 75%, which will mean you will require only a small deposit and a small mortgage and you wil pay rent on the share that you do not own.

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For more information on the above small deposit options, please contact us to book in a FREE consultation with one of our in office advisors.