Return of the 100% mortgage: a pantomime villain bounces back - This is Money
Return of the 100% mortgage: a pantomime villain bounces backThe return of the 100% mortgage is like a pantomime villain bouncing back.
The small or no-deposit mortgage has been marked out as the devilish work of the property boom. Hardly surprising when the high water mark of a cheap credit boom delivered the 125% mortgage - a punt on house prices rising that instantly put you in a big amount of negative equity.
In classic herd investment style, that looked like a great move in the eyes of those who wanted to believe in it - banks and borrowers who had no savings for a deposit but a bit more debt they'd been putting away for a rainy day.
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