9 September 2011

Aldemore bank has offered a mortgage of 100% to potential buyers with an interest rate of 6.48%.

The deal is available for first time buyers but will require a relative to act as guarantor on any borrowing in excess of 75%.

The Managing Director of Aldemore’s said they have reinstated the 100% mortgage to help first time buyers get on the property ladder by forgoing a large initial deposit.

Buyers need to be over 25, prove they can afford the monthly repayments on any property worth up to £250,000 and will be tied in to a fixed rate mortgage for three years. The mortgage will be available via a number of agents including Arun Estates.

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