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8 April 08 - Final 100% Mortgage Deal Withdrawn
The final mainstream lender to offer 100% mortgages has
reportedly axed the deal.
Abbey told reporters that market conditions had caused
the deal to be withdrawn.
A spokesman told the Daily Mail: "This is normal given
the current market conditions and is in line with recent
moves by other lenders."
The bank also increased the cost of many of its fixed-term
and tracker mortgages.
It follows Abbey releasing the results of a survey which
found the number of homeowners who would take out a five-year
fixed rate mortgage has doubled during the past month to
around 24%, which the bank said was due to borrowers looking
for certainty for a longer period amid problems in the mortgage
market after the credit crunch.
News items supplied by SelectNews, produced by PA Business,
part of the group that owns The Press Association, the UK's
national news agency. Copyright (c) PA Business 2007.
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