100% Mortgages

[the wee p]

As we are not yet residents in France i am finding it increasingly difficult to find anyone who offers a UK person a 100% mortgage, can anyone suggest anyone please

[Sprogster]

I don't believe 100% mortgages in France were ever available, as banks in France are strictly regulated as to the amounts they can lend as a percentage of a borrowers earnings and the value of the secured property. (Your monthly debt repayments in total are not allowed to exceed one third of your gross income.)

At any rate the days of easy credit and 100% mortgages are now over, due to the American sub prime mortgage problems that have caused a global credit squeeze. Surely, you are aware of the Northern Rock situation?

Anyone currently looking for a mortgage in the UK will have noticed that banks are already applying much stricter lending criteria.

[Val_2]

I believe you are right, our neighbours had to save a good 30% of the property cost for a deposit before they could have a mortgage to buy their house( and as luck had it they won about the equivalent of £7k on the lotto) and in France the repayment time was always lower something like 15 years. People just don't take on debt here so easily as the UK and USA where mortgages are concerned,the banks are very much stricter with their lending.