UK mortgages with smaller deposits reach highest level since 2008
A growing share of British homebuyers are obtaining mortgages with deposits below 20%, matching pre-financial-crisis trends.
The proportion of UK mortgages issued with smaller deposits has climbed to its highest point since 2008, according to BBC reporting. The BBC interviewed borrowers about how they navigate the associated financial risks of putting down less than the traditional 20% deposit.
The trend reflects shifting lending practices and housing market conditions, though such mortgages typically come with higher interest rates and additional costs like mortgage insurance for lenders protecting against greater default risk.
Sources
- We bought our £242,000 home without a deposit - here's how — BBC Business
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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