No deposit mortgage: Building Society launches new mortgage and we find out what Manchester people think
- last year
A building society has launched a new mortgage to help people get onto the property ladder without a deposit.
Skipton Building society has created a 100 percent mortgage for first-time buyers who are currently renting and pass the lender's affordability criteria.
Buyers will be able to borrow up to 4.49 times their income up to a maximum total of £600,000, according to This is Money.
This news may help young people get onto the property ladder without having to save tens of thousands of pounds over many years to place a deposit.
We spoke to local people to find out their thoughts on this new mortgage.
Skipton Building society has created a 100 percent mortgage for first-time buyers who are currently renting and pass the lender's affordability criteria.
Buyers will be able to borrow up to 4.49 times their income up to a maximum total of £600,000, according to This is Money.
This news may help young people get onto the property ladder without having to save tens of thousands of pounds over many years to place a deposit.
We spoke to local people to find out their thoughts on this new mortgage.