The humble building society leads the way in helping would-be homeowners

May 9, 2023

“With the news of Skipton Building Society launching a 100% mortgage, a first for lenders in 15 years, it seems that the humble building society is leading the way in helping would-be homeowners.

For renters wanting to get onto the property ladder with good credit history and a 12-month track record of meeting rental payments on time, this is potentially welcome news. This new product removes the stumbling block of saving for a deposit and the ever-growing reliance on the Bank of Mum and Dad to facilitate home ownership. We have already taken a number of calls today from interested first time buyers.

Whilst the launch of this product has been much-anticipated, even those with larger incomes could still struggle to purchase the homes they desire due to the restrictions in the product’s lending criteria, the wider high interest rate environment and high house prices in many areas of the UK.”

 

Adrian Anderson

Anderson Harris

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