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Buying your Home

Mortgage Providers: A number of providers will give you a mortgage of 100% of the property price, but there are often stipulations:

• some allow 100% mortgages - but sometimes only to people in the professions.

• you may have to pay a mortgage indemnity guarantee premium (Mig) which protects the lender in case you default on payments. A Mig can cost up to 12% of the property price.

• most lenders levy a fee if you borrow more than 90% or 95% of the property value

You can usually borrow three times your annual salary, plus one times that of your partner's (spouse or cohabitant) salary. Alternatively you may be able to borrow 2.75 times your joint income. Some lenders are more generous than this.

Further reading - The Need to Plan

REMEMBER You should not use any information contained on this page as the basis of any action until you have discussed matters with your financial adviser.