British high street bank increases the multiple of earnings against which people can borrow on its ‘family springboard’ mortgageThe no-deposit mortgage has returned,with Barclays removing the need for buyers to put down any deposit when buying a domestic using its “family springboard” mortgage.
The deal had previously allowed people to climb on to the property ladder with a 5% deposit, if that a “helper” – often the domestic buyer’s parents – puts cash equating to 10% of the house purchase price into a savings account linked to the mortgage.
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Source: theguardian.com