15-05-2025
New 100% mortgage deal launches in UK
Homebuyers will be able to get a 100 per cent mortgage tomorrow, in one of the first deals of its kind since the financial crisis.
April Mortgages is releasing the deal, which will require borrowers to fix their interest rate — starting at 5.99 per cent — for 10 or 15 years.
The mortgage will be available to first-time buyers and house movers with a household income of at least £24,000 and will not require a deposit. April Mortgages said fixing the rate for a decade or more would reduce the risk of negative equity, where the value of a property falls to less than the loan taken out against it.
The lender, a Dutch-owned company, offered its first mortgages to British buyers last year.
