Lenders are poised to start offering 100 per cent mortgages for the first time since the global financial crisis in 2008. Skipton Building Society is planning to launch a loan for first-time buyers who do not have a deposit in a drive to get more people on to the property ladder. Prior to the 2008 financial crash, all large lenders including Lloyds and HSBC offered no-deposit mortgages. In an effort to boost purchasing power the Government might be considering a revival of the Help to Buy scheme, which offered first-time buyers loans for newly-built homes. The Bank is predicted to raise rates by 0.25 percentage points to 4.5 per cent, their highest level since October 2008.

Source: Daily Mail May 09, 2023 12:29 UTC