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This article discusses the options available to first-time buyers with little or no deposit for a mortgage. The author, Scott Barron of SJ Mortgages, answers a reader's question about whether there are mortgages available with no deposit. He mentions that Skipton is currently the only lender offering a 100% mortgage, which means no cash lump sum is required for a deposit. However, this type of mortgage comes with a higher interest rate, increased risk of negative equity, and stricter lending rules. Barron suggests exploring other options, such as mortgages where family members assist as borrowers. The article also provides information about Scott Barron and Jack Tutton, co-founders of SJ Mortgages, who aim to provide expert advice and a personalized service to their clients. [Extracted from the article] |
