Financial Times - Return of the 100% mortgage brings a mixed response
The 100 per cent mortgage is making a comeback, after Skipton Building Society this week launched a no-deposit deal aimed exclusively at renters aspiring to buy their first home.
Aaron Strutt, broker at Trinity Financial, told the Financial Times if borrowers have a five per cent deposit they maybe able to access Nationwide's 4.89 per cent five-year fix with a £999 fee and Skipton’s own five-year fix at 4.91 per cent.
He added: “If this mortgage is a success other banks and building societies will be keen to bring out similar products. At the moment it’s just Skipton offering 100%. If they are inundated with applications, there’s every chance they either pull the deal or increase the rate.”
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