Mortgages are they going
Mortgage lenders, less likely to lend?
More and more banks are removing there mortgages, either completely or only leaving the mortgages that are hard to get, But why? Is it because of the recent credit crisis or is it because of rising house prices or is it a mixture of a lot of things.
The last of the 100% mortgages
Banks used to let you borrow the full amount of a mortgage meaning you did not have to worry about a deposit, but in the last few months the last of the 100% mortgages have been took of the market for now, it is even hard to get hold of a small deposit mortgage with most banks asking for at least 5% of the mortgage as a deposit. Also with the rise in mortgage rates it is getting to the point were it will be nearly impossible to get a mortgage.
Mortgages, so why is it so hard to get one?
With the resent credit crisis banks are less likely to lend to each other. So there is less money to borrow. All so with nearly everything rising in price people are finding it harder to keep up with mortgages repayments so banks are coving themselves by making it so hard for people to get hold of one.
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