Be very careful with 100% mortgages, says Bank of England
Skipton's latest 100% mortgage requires borrowers to show they have had 12 months of on-time rental payments and a good credit history.
"I think we have to watch it very carefully," Mr Bailey told the BBC when asked about the return of 100% deals."I'm not going to say no to 100% mortgages but both lenders and borrowers have to be very careful about this," he added. The rate for Skipton's latest 100% deal is 5.49%, which is more expensive than its current average five-year fixed deal of 5%.Some borrowers have been struggling as rising interest rates have driven up mortgage costs.
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