100% mortgage what pros and cons?

hey was wondering if people could tell me the pro's and cons of the 100% mortgage. I am earning 30k and she is erning 30k. we both have max ssia which so will have close to 40k at march 2007 she is payin 290pm on car loan but is getting rid of it soon. obviously we want to get house way before 2007? any other ideas. thanks for any help people!!!!

Pros:

• You don't need any deposit up front

Cons:

• Not everybody qualifies (usually only some first time buyers)
• You will pay more in interest charges and mortgage protection life assurance than with a lower loan to value ratio
• The rate may be higher than a lower loan to value ratio loan
• You still need to stump up legal/conveyancing costs, stamp duty (if applicable), fitting out expenses etc.
• Is there an indemnity bond with 100% mortgages?

ClubMan said:

Is there an indemnity bond with 100% mortgages?

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Tbh, I don't know. We have a 100% mortgage with UB (U-First tracker) and seem to remember something about a bond, but the bank covered the cost of this.

i dont know bout bond as i know little bout this option and was lookin for best advice round this r any others