24
Sep
Expert hopes 100% mortgage 'will pave the way for other lenders'
One housing expert has expressed her hope that lenders will follow
the lead of the Mansfield Building Society, which has introduced a
new 100 per cent mortgage deal.
Helen Adams, managing director at FirstRungNow.com, said that other
similar deals need to be made available to make securing a mortgage
more accessible for first-time buyers.
Those who take out the loan - which is aimed at people looking to
buy their first property - can borrow up to 100 per cent of the
amount to cover their share of the purchase price.
"I hope this will pave the way for other similar lenders to help
first-time buyers onto the first rung of the property ladder and
that we can have a national offering from a number of lenders,"
stated Ms Adams.
This news comes after Moneyfacts.co.uk recently reported that
buyers on an average two-year fixed-rate mortgage with a 90 per
cent loan-to-value have seen a 0.12 per cent rate drop the past two
years.
