Home Truths
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The Benefits of a 100% Deposit Free Mortgage
A new product by Skipton Building Society says that you can borrow 100% of the money you need to buy the house. The reason is that a lot of renters are really struggling at the moment to save enough for a deposit. Depending on how much they save, it could be taking an average household maybe eight years to save for a mortgage. And that's up from four years, 20 years ago. If they save only 5% of their income, it could take up to 40 years to get the deposit. That's why you need these kind of products because people just can't afford.
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