Gordon Gekko
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...So to speak
People earning £50k per annum can get a 100% mortgage if someone else lodges 10% of the purchase price into a ring-fenced Barclays deposit account. If the borrower keeps up the repayments for a three year period, the "guarantor" gets back the 10%.
The rate is 2.99% fixed for three years.
The guarantor receives interest on the deposit (at a rate of 2%).
The maximum income multiple is 5.5.
http://www.theguardian.com/money/20...tgage-how-much-does-it-really-help-homebuyers
People earning £50k per annum can get a 100% mortgage if someone else lodges 10% of the purchase price into a ring-fenced Barclays deposit account. If the borrower keeps up the repayments for a three year period, the "guarantor" gets back the 10%.
The rate is 2.99% fixed for three years.
The guarantor receives interest on the deposit (at a rate of 2%).
The maximum income multiple is 5.5.
http://www.theguardian.com/money/20...tgage-how-much-does-it-really-help-homebuyers
