Abbey steps into the 100 per cent
Abbey are launching
a 100 per cent mortgage product onto the market.
Abbey’s new mortgage
deal has a maximum loan-to-value of £500,000
and requires no down payments. There are no lending charges and
the range varies from 2, 3 and 5 years. This new deal is an advantage
for first-time buyers who do not have large sums of cash to place
down as a deposit.
Ricky Okey, Abbey managing director says: “With the average
age of a first time buyer pushing 34 years old, we know that
many people are increasingly frustrated at their inability to
get on the property ladder.
Through no fault of their own, many
first time buyers have not been able to save for a deposit, but
are very reluctant to keep paying rent, which they feel is just
wasted money. Likewise, divorcees can often find themselves starting
out again financially.”
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