The Right Mortgage adds 100% LTV lender to panel

The Right Mortgage & Protection Network has added Gable Mortgages to its lender panel, offering member firms access to its range of zero-deposit mortgage products.

Gable Mortgages is a new-to-market lender focused on supporting access to homeownership across England and Wales, particularly for first-time buyers who may find saving a deposit difficult and next-time buyers who do not have sufficient equity in their existing property to fund their next purchase.

The lender currently offers two five-year fixed rate mortgage products at 100% LTV, covering standard residential and new-build properties. 

Gable offers enhanced affordability criteria for key workers, with lending available at up to five times income for a single key worker and up to 5.5 times income where both applicants qualify as key workers. The criteria also includes a lower minimum income requirement for key workers.

Gable’s new-build zero-deposit mortgage is powered by Own New and includes new-build flats within its property criteria. The range has no product fee payable by the customer, with the relevant product fee instead paid by the developer.

Initially, the new-build product will be available through Own New with limited distribution to Barratt Redrow, including David Wilson Homes, for the first four weeks following launch.

Victoria Clark, head of lending at The Right Mortgage & Protection Network, commented: “Saving the deposit required to purchase a home remains one of the biggest barriers facing many would-be buyers, and that is particularly the case for those who may already be paying significant amounts each month in rent while also trying to build up their savings.

“Adding Gable Mortgages to our panel gives our member firms another option to consider for clients in this position, including both first-time buyers and those looking to move who may not have sufficient equity in their current property. The 100% LTV proposition is clearly a key part of this, but we are also pleased to see the additional affordability options available to key workers and Gable’s specific new-build offering.

“We have talked a great deal recently about the importance of ensuring advisers have access to a broad range of lending options, particularly as borrower circumstances and needs become more varied. Gable is entering the market with a proposition aimed at some very clear customer needs, and we are pleased to welcome Gable to our panel and make its products available to our member firms.”

Lisa Crane, mortgage operations director at Gable Mortgages, said: “We’re proud to partner with The Right Mortgage & Protection Network as we launch Gable’s new 100% LTV mortgage. Its adviser community plays a vital role in helping customers navigate the mortgage market, and this partnership will make an innovative new option available to more first-time buyers who can afford the monthly repayments but may be held back by the challenge of raising a substantial deposit.”