The Times - New 99% mortgage deal for first-time buyers

Aaron Strutt Image

First-time buyers will be able to get on the property ladder with as little as a 1 per cent deposit under a new type of mortgage being released by one of Britain’s largest lenders.

Aaron Strutt, from the mortgage broker Trinity Financial, said: “It is good news borrowers have another low-deposit mortgage option available and it may well tempt some other lenders to offer similar products.

“Banks and building societies always want a 5 or 10 per cent deposit so this is quite a shift from standard acceptance criteria.”

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