Money Box Live: Finance for the under 30s
Money Box
00:00
The Risks of a 100% Mortgage
Rising rents do seem to be stopping a lot of younger people from being able to save that deposit in order to escape renting. Research suggests tenants are now spending more of their wages on rent than at any time in the last 10 years. Alice, we've seen recently 100% mortgages being offered again. Could they be the answer for some renters? There's certainly an option and it's a great way to get onto the housing ladder because it means people can get out of the rental trap faster as they don't have to spend time saving. But of course, there's risks. We are in a situation where interest rates are rising. And so we're likely to see a drop in housing
Transcript
Play full episode
