Mortgages : 130% Mortgages
The 130% mortgage has been laurnched in the uk. It enables consumers to borrow up to 130% of their property's value with no higher lending charge and is designed to meet the needs of first-time buyers, people without a deposit.
Bruce Robertson, a consultant with Savills Private Finance in Edinburgh, said: "Borrowing such a large sum relative to the value of the property being purchased could potentially cause problems.
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