What is a deposit-free mortgage? The criteria you need to meet and how to apply
Renters who lack savings or financial support from their family can potentially make the jump on to the housing ladder with a new zero-deposit mortgage.
In return, they will need to demonstrate a strong track record of paying their rent, with evidence of a minimum of 12 months of rental history. This evidence could be provided through bank statements or a letter from a suitably registered letting agent, for example.How does it work? A customer must be aged 21 or over and will need to present proof of at least 12 months of on-time rent payments as well as a good credit history.
What criteria do I need to meet? Guidance on Skipton's website states that you may be eligible for a zero-deposit mortgage with the company if you meet the following criteria:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Thousands can get free cash to help pay bills worth up to £781 – how to applyIF you are struggling with everyday living costs you could get free cash to help cover your water bills. Most suppliers have a pot of money to dish out to thousands of customers who are under press…
Read more »
'I'm 70, live alone and my total income per month is £800. Can I apply for pension credit?'💷 Pension credits are all-too-often unclaimed ⬇️ Here is how you can make sure you don’t miss out on thousands of pounds a year 🖋️ thomasselby
Read more »
Renters get helping hand with deposit-free mortgagesA new mortgage has been launched aimed at helping renters get a step onto the property ladder.
Read more »
Skipton launches deposit-free mortgage aimed at rentersThe product requires a good credit history, but does not need the financial backing of family or friends.
Read more »
Skipton launches deposit-free mortgage aimed at rentersThe product requires a good credit history, but does not need the financial backing of family or friends.
Read more »
Deposit-free 100% mortgage deal aimed at helping buyers ‘trapped in rental cycles’Lender Skipton Building Society is preparing to launch a 100% mortgage with zero deposit aimed at getting people ‘trapped in rental cycles’ onto the property ladder
Read more »