Abbey introduce 100% mortgage

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by Kay Murchie

A new 100% mortgage has been introduced by Abbey. It has been launched to help people who are finding it hard to get onto the property ladder. The mortgage is set to roll out today and will allow buyers to borrow up to half a million pounds.

The mortgages are available in two, three and five-year fixed-rate and tracker packages. The Abbey mortgages are available through the group’s IFA and retail network. It has been established that many people, even those in their 30’s are struggling to get a foot on the property ladder.

Abbey thinks it is important to offer larger loans without a deposit as the average price of a house in the UK is around £200,000.