It's beginning to get harder and harder for first time buyers to get on the property ladder but with more and more specialized mortgages being introduced for first timers getting the funds to buy the property is gradually becoming easier.

Many first time buyers do not have a substantial amount to place down as a deposit and in many cases not even the minimum deposit required after allocating the fees etc which are needed for the sale of the property to go through. This is where taking out a 100% mortgage may be a better option, it gives you the freedom to buy a property without worrying about placing a deposit down. These mortgages are only available to a select number of applicants, normally ones who have a professional occupation, good credit history and are up to the age of 35 (this may vary throughout lenders).

Lenders tend to categorise first time mortgages into two categories, graduate and professional. Professional mortgages would be for people who have come from a professional working background and are able to prove their income and career prospects to the bank. Graduate mortgages are for anyone who has a degree and up to the age of 35.

Make sure you understand everything before applying for a 100% mortgage by acknowledging the following risks:

• After obtaining the mortgage you may be required to deposit more than finance in cash or securities if the value of the securities you pledged falls below the minimum required by the lender.

• If a collateral call was needed to be met then your lender has the right to sell your securities.

• They can sell your collateral without your consent or contacting you.

• You have no say in what securities can and can not be sold by your lender.

• There may not be a time extension when meeting a collateral call.

• If you stop making monthly payments for your mortgage you could lose both your property and any securities you may have pledged at the time of buying.

For more information about 100% mortgages or if you want to apply for a mortgage fill in our online enquiry form and one of our mortgage brokers will get back to you as soon as possible. They will talk through the packages available and find the best suited mortgage for you.