The return of the 100% mortgage

Aldermore have launched a new mortgage product available up to 100% of the purchase price if a family member is willing to act as guarantor to the borrowing above 75% of the value of the property. The Family Guarantee Mortgage will be available to both first time buyers and home movers and is thought to be the first 100% mortgage made widely available since the credit crunch. The mortgage will have an interest rate of 6.48%, which is fixed for three years and a family member must be willing to guarantee the borrowing above 75% loan to value. The mortgage comes with ...