100% Mortgages

100% mortgages are mortgages with a specific name not because of distinctive differences in capital sum payment method or any particularity of the interest rate but because the lender will give you the full amount needed for the purchase of the property.

It may seem tempting not to have to make a significant financial effort in the beginning but no matter what type of interest discount you will have associated with the mortgage it will be higher than with a regular mortgage.

In the long term you will end up paying more than you should and the financial stress will be higher than the stress of borrowing the initial sum from a friend or relative or the stress of waiting a while until you can save a little more.

However, if you must use this type of mortgage it is best to spend some time looking for the best deal.