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Tuesday, 8 April 2008

No More 100% Mortgages

100% mortgages are no longer availbale, with the Abbey being the final bank to withdraw its 100% mortgage product yesterday.

This finally signals the end of an era where people could purchase a property with no deposit at all.

Buyers will now need a deposit of at least 5pc - an average of £10,000 - to purchase a home.

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