125% Mortgage

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Borrow more than your property is worth

Sometimes a 100% mortgage isn't enough especially if you're trapped in negative equity, you're trying to start a new business or your new home needs a lot of work. Lenders realise this, and it's possible to get a 125% mortgage or even a 130% mortgage to help you find your feet.

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For a long time the biggest mortgages were for 95% of the property price, but then lenders attempted to woo buyers with 100% mortgages. However, sometimes you need to borrow more than a property is worth. You might suffer from negative equity, where your house's value has plummeted; you might be starting a new business, or your new home may need serious amounts of work. For that, a 125% mortgage can help.

As you'd expect, banks are wary of lending huge sums of cash and as a result, if you want a 125% mortgage the lender is likely to look over your finances very carefully indeed. Most such mortgages come from specialist lenders because the high street banks don't like the risk, and if you're starting a new business it's a good idea to look for a commercial mortgage.

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