Abbey 100% mortgage 'savvy' for FTBs
www.moneynews.co.uk > Mortgages > Abbey 100% mortgage 'savvy' for FTBs
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Money News |
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Abbey 100% mortgage 'savvy' for FTBs
Mon 2nd Jul 2007
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Research carried out by the group indicates that over 11 million people who have invested in bricks and mortar for the first time dip into their account.
Over 800,000 people do not possess sufficient willpower to keep away from their earnings being saved up for a deposit each week.
Abbey's 100 per cent mortgage does not require a deposit and enables prospective homebuyers to take on a maximum loan of £500,000.
Rickey Okey, managing director at Abbey for intermediaries, said the research "does go a long way to explaining why so many people are finding it hard to get onto the property ladder". Through some of the first-time-buyers the firm spoke to, researchers found that there is "a strong demand for our 100 per cent mortgage, as many have not been able to save a deposit large enough".
Abbey also noted how a Council of Mortgage Lenders report published in July 2005 showed that many first-time buyers said 100 per cent mortgages offered them some of the only opportunities to get on to the property ladder.
Related News : Mortgages |
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