More lenders 'should offer 100% mortgage deals'

Date:Friday 25th September 2009
Author: Max Freedman

More lenders should be helping out first-time buyers and offering 100 per cent loan-to-value mortgage deals, according to an industry insider.

Helen Adams, managing director of, commented that it is very encouraging for people looking to get on the property ladder to see this sort of deal, but said it is also positive for mortgage brokers looking to help their customers get into the market.

The only 100 per cent mortgage deal available at the moment is from Mansfield Building Society, with the offer being limited to those buying a 60 per cent stake in a house with South Yorkshire Housing Association.

Ms Adams pointed out that 100 per cent mortgage deals will only really work with small mortgages, but that it will be a positive situation if more than one lender begins offering such products.

She added: "I hope this will pave the way for other similar lenders to start doing the same thing and help first-time buyers onto the first rung of the property ladder."