UK mortgages with 100% deposits hit highest level since 2008
The share of UK home loans requiring no deposit has reached its peak in over 15 years, according to BBC reporting.
The proportion of UK mortgages issued with minimal or zero deposits has climbed to levels not seen since the financial crisis, the BBC reported. Lenders have increasingly offered these products to borrowers unable to accumulate traditional down payments.
The BBC interviewed borrowers about how they navigate the heightened financial risks associated with 100% mortgages, which leave no equity cushion and expose homeowners to negative equity if property values decline.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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