Withdrawal of 100% mortgages
11 May 2008
100% mortgages are now only available from a limited number of lenders to a narrow group of qualified professionals.
The standard borrowing level is now 92% .For most buyers this means that a deposit of 8% of the purchase price needs to be available in order to buy a property .
100% mortgages are available to qualifying professionals buying property for the first time. Applications are considered by lenders ona case by case basis.