Return of the 100% mortgage; Estate agent's creative solution.
Over the last two years, the difficulty of raising a large deposit has been the single biggest issue facing first-time buyers.
The new mortgage is being made available through agents William H Brown in Huddersfield.
James Rudd, senior mortgage services consultant for William H Brown, said: "This is great news for first and second-time buyers who are crying out for mortgages which don't require huge deposits.
"We believe these buyers have become disenfranchised from the market because of the need for huge deposits, an issue which until now has not been addressed and has hampered housing market recovery.
"It's often the case that first and second-time buyers can afford monthly mortgage payments, but don't have a lump sum of cash for the deposit.
"Our new 100% Family Guarantee mortgage product will help these individuals obtain their own home, where previously they were blocked out of the market, by making a 25% charge against a property owned by a parent, step-parent or grandparent."
Anyone wishing to discuss the details of the new mortgage with William H Brown can contact the branch on 01484 542072 or email: email@example.com
* WITHIN REACH: The 100% mortgage can be obtained by William H Brown although grandparents or others will have to guarantee up to 25% of the loan
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|Publication:||Huddersfield Daily Examiner (Huddersfield, England)|
|Date:||Sep 29, 2011|
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