100% Mortgages
If a borrower is unable to put down a deposit on a property, he or she would need to borrow the entire purchase price.
This is known as a 100% mortgage.
Until recently, 100% mortgages were fairly widely available and at interest rates not much higher than a mortgage where a deposit had been put down.
However, since the onset of the credit crunch, the supply of 100% mortgages has virtually dried-up.
