{"id":774265,"date":"2026-09-18T03:00:08","date_gmt":"2026-09-18T03:00:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/774265\/"},"modified":"2026-09-18T03:00:08","modified_gmt":"2026-09-18T03:00:08","slug":"why-we-bought-our-first-home-with-a-100-mortgage-despite-the-risks","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/774265\/","title":{"rendered":"Why we bought our first home with a 100% mortgage &#8211; despite the risks"},"content":{"rendered":"<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Widespread uptake of low-deposit mortgages by borrowers who could not afford them was seen as a major factor in the 2008 global financial crisis.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">But today&#8217;s deals have much stronger affordability checks and do not pose the same risks, says David Hollingworth, associate director at brokers L&amp;C Mortgages.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Borrowers of Skipton&#8217;s zero-deposit mortgage, for example, have to prove they have kept up with their rent for at least 12 consecutive months and credit payments for the last six months.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">And Lloyds won&#8217;t issue one of its \u00a35,000 deposit mortgages for new-build properties and shared ownership homes.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Hollingworth says lenders are recognising that some people have &#8220;good affordability but may be struggling to save for a deposit while paying a rent and dealing with cost of living pressures&#8221;.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Following a recent rule change, he adds, lenders are also <a href=\"https:\/\/www.bbc.co.uk\/news\/articles\/cp3rkzpl7ngo\" class=\"ssrcss-1e0jzsh-InlineLink e1kn3p7n0\" rel=\"nofollow noopener\" target=\"_blank\">offering more &#8220;flex&#8221; on how much someone can borrow<\/a> as long as it&#8217;s within their means. <\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Nevertheless, he urges borrowers to use common sense.  <\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">&#8220;Think carefully &#8211; what do monthly payments look like? Are you aware that interest rates could go up?&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"Widespread uptake of low-deposit mortgages by borrowers who could not afford them was seen as a major factor&hellip;\n","protected":false},"author":2,"featured_media":774266,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[59,86,56,54,55],"class_list":["post-774265","post","type-post","status-publish","format-standard","has-post-thumbnail","category-technology","tag-gb","tag-technology","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/774265","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=774265"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/774265\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/774266"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=774265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=774265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=774265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}