The 100% Mortgage is Back

A 100% mortgage deal has been launched by Aldermore Bank which will once again allow homebuyers to borrow the full amount of a property’s value.

Since the recession, Aldermore is the first lender to offer a 100 per cent mortgage; there is one point to bear in mind; to obtain this mortgage, the homebuyer will need to secure a guarantor for this loan.  To obtain the mortgage, 25 per cent of the full loan amount will need to be secured through a charge on the guarantor's own property.

From the above, it is most likely to be family that will use this type of mortgage.