The lender said its new 1% deposit deal could help aspiring homeowners buy at a time when 95% mortgages are disappearing by the day. It comes after the Prime Minister announced plans to 'fox the broken housing market' with a new 5% deposit mortgage scheme that would see the government back loans on behalf of first time buyers from 2023. Tipton said its new Flexible Family Assist mortgage will join its 100% mortgage deal - except this time it requires a 1% contribution. If successful, you're looking at a mortgage term of up to 35 years with 3.09% interest fixed until November 2025. Tipton's Flexible Assist 3.09% fixed rate is the only mortgage deal available at 99%, according to comparison site Moneyfacts.

Source: Daily Mirror October 07, 2020 14:19 UTC