A well known building society has reported that it is considering launching 100% mortgages.
The products would likely only be available to first time buyers, and affordability and the ability to prove a unblemished credit history would be essential.
The potential lending rates for such clients could be very high, but these types of products would offer a lifeline for those trapped in the rental cycle.
The main concerns a lender would have to consider are, negative equity, the ability to afford the payments, and the clients credit history.
The likely demand from first time buyers would be huge, so any lender that decides to enter this arena could be well rewarded.
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