Goodbye to 100% Mortgages for most borrowers

Posted on 7 April 2008 by Ray Boulger

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Abbey, the last lender to remain in the 100% market for any creditworthy customer without a parental guarantor or on a special scheme, is pulling out from 22.00. tomorrow.

The only lenders still offering 100% mortgages in all or part of the UK from Wednesday 9 April, subject to none of them pulling out before then, will be Bank of Ireland on their 1start scheme, Bristol & West (England, Wales & Scotland only) on 1start, Ipswich B S on a shared equity mortgage (England & Wales only), Tipton & Coseley B S (Birmingham, Dudley, Walsall and Wolverhampton only) on a guarantor shared equity scheme, Northern Bank (N Ireland only), Ulster Bank (N Ireland only) and First Trust Bank (N Ireland only).

Thus the message seems to be if you want a 100% mortgage buy a property in N Ireland and commute to elsewhere in the UK!

 

Categories: Property market, Mortgages, Interest rates

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