Subscribe to The Money StopNews Feed

Browse > Home / News, News-Loans / Lenders to start withdrawing 100% mortgage deals

Lenders to start withdrawing 100% mortgage deals

February 21, 2008 by admin  
Filed under News, News-Loans

1 Comment

Following the withdrawal of 125 per cent mortgage deals, many lenders are beginning to remove 100 per cent deals too, one finance expert has claimed.

Moneyfacts.co.uk has said that 100 per cent mortgage deals are becoming expensive and harder to find, and this is a market trend which will affect first-time buyers the most.

Since November almost one third of lenders offering the rate have withdrawn their products from the market, leaving only 28 providers.

Julia Harris analyst at moneyfacts.co.uk, said: “This is yet another example of lenders continuing to tighten their belts even further in what has become a vastly different mortgage market from this time last year.”

Those who are looking to get on the first rung of the property ladder will find there are fewer options without a deposit.

First-time buyers could have to pay a larger premium for the added risk that the lender is taking on, he added.

Meanwhile, the Council of Mortgage Lenders has reported that while gross lending held up well in January, there is still “considerable uncertainty in the housing market” at present.

Tags: first time buyer, example, different mortgage market, lenders, larger premium, market trend, moneyfacts, rate

Tags:

Related Entries

  • Mortgage deals keep disappearing
    • Since the latter part of 2007 the world of mortgages has seen a lot of changes, and the sector has been in turmoil ever since this time. The global credit crunch has had a profound
  • Bank cuts base rate, but lenders raise mortgage rates
    • Yesterday's cuts in the Bank of England's base rate, intended to help prevent the slide towards recession, were immediately undermined as lenders increased mortgage rates.The third cut in the base rate since December will bring
  • Frightened banks pull mortgage deals
    • Recent figures have shown that since the start of October hundreds of mortgage deals have been pulled off the shelves by lenders who are becoming increasingly nervous in the current difficult financial market. Over the
  • Increase in mortgage availability could spell good news for consumers
    • A recent report has indicated that the number of mortgages on offer to consumers could be on the increase, and access to these mortgage deals may be getting easier, even for first time buyers in
  • It’s ‘always worth’ comparing mortgages, says expert
    • Independent website Your Mortgage has told consumers not to be content with their current mortgages deals because it is "always worth" comparing mortgages from different lenders to try to get a better one. Pauline McCallion, editor
  • Lenders cut fixed rate mortgage rates
    • According to industry reports a number of lenders have slashed the rates on their fixed rate mortgage offerings even though the Bank of England decided to keep the base interest rate on hold again this
  • Consumers withdrawing billions due to poor returns on savings
    • A recently released report has claimed that consumers in the UK have been withdrawing billions of pounds worth of savings over the first couple of months of this year, and this is because of the
  • One year high for fixed rate mortgage lending
    • According to recently released figures fixed rate mortgage lending levels have recently hit their highest level in the space of around one year, as first time buyers and existing homeowners that are ready to refinance

Comments

One Response to “Lenders to start withdrawing 100% mortgage deals”
  1. Suze@ 100 Mortgage says:
    October 10, 2009 at 1:16 pm

    I totally agree with your post, very much applicable to the current situation and shows it is about time to reinstate the 100% mortgage to the money markets.

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!