UK MORTGAGE LENDER TO OFFER FIRST 100% LOANS SINCE 2008 CRISIS – THE GUARDIAN
Skipton building society aims product at renters who cannot save enough for a deposit.
A leading lender plans to launch a 100% mortgage aimed at would-be first-time buyers who cannot save for a deposit, the first since the 2008 financial crisis.
Standard home loans where the borrower does not have to put down a deposit used to be fairly commonplace but the last was axed in the wake of the financial crisis.
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However, Skipton Building Society is getting ready to launch a mortgage targeting those “trapped in rental cycles” and who do not have access to “the bank of mum and dad,” and so are therefore unable to save up enough for a home deposit.
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