Mortgage advice for everyone

Deal of the week

Hello all

So here is a genuinely viable way for somebody to get on the property ladder with virtually no savings/funds at all; we have arranged a few of these recently. Most of the lenders who offer 95% mortgages (the maximum available in the current market) require that the 5% deposit that the customer puts in comes from savings or a gift from a family member or someone close to the customer. There are 2 mainstream lenders who accept the customer borrowing the deposit – and associated fees too if they wish.

Typical example: customer wishes to purchase a property for £150k, 95% mortgage will be £142,500 and we can get monthly payments at £547 on that with a 2 year fixed rate at 2.99% with free survey, no arrangement fee and also £250 cashback on completion. They can arrange a personal loan for the deposit of £7,500 with a major bank over 5 years at a typical rate of 3.9% right now with monthly payments of £137. They could even include their legal fees in that if they wished.

So for a total monthly outgoing of £684 a person can purchase and own their own home without having a deposit or even money to cover the costs if needs be! Great for young people who haven’t the capacity to save!

*Mortgage and credit facilities are subject to status. Your home is at risk if you do not keep up the repayments on a mortgage secured on it.

Best regards,
Simon Balderson
Head of Mortgage Services

Financial Services 

Thornley Groves works with Lomond Mortgage Services who can source the right mortgage for you. Whatever your requirements, our expert advisers can help you achieve your goals by finding the right deal for your circumstances.

For more information, speak to one of our professional Financial Advisers & see what they can do for you - after all they have the whole of market to research and find the very best mortgage for you.

Prefer to call our mortgage team directly?
Start by calling Mel on 0161 942 4145

Mortgage calculator

Thornley Groves works with Lomond Mortgage Services who can source the right mortgage for you. Whatever your requirements, our expert advisers can help you achieve your goals by finding the right deal for your circumstances.

Instructions: Enter numbers and decimal points. No commas or other characters.

How much in £ will you be borrowing?
e.g. 175000

What will be the term of this mortgage be in years?
e.g. 25

What will be the interest rate?
e.g. 3.75


This is your monthly repayment you will send to your mortgage provider. Remember, you will also have to budget for buildings insurance.

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