Mortgage News
Almost half of Britons support 100% LTV mortgages
Support for 100% loan to value (LTV) mortgages appears to be building as almost half of the UK population is in favour of the products.
According to research by YouGov, 48% of Britons believe not requiring a deposit to buy a home is a good idea.
The polling organisation asked 9,713 adults if they thought the re-introduction of 100% mortgages to help young people onto the housing ladder was a good idea.
Overall 48% said yes, 32% said no and the remaining 20% were undecided.
The majority of women (52%) believed it was a positive while only 44% of men felt similarly.
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Perhaps surprisingly younger Britons aged 18-24 were slightly less likely (46%) to support the move than all the older age groups which had 48% and 49% support respectively.
However, younger people were far less likely to think it was a bad idea, with only 22% rejecting the concept compared to 37% of those aged 50-64 or 65 and older.
Regionally the results were largely similar with London seeing the lowest level of support at 44% and Scotland the highest at 51%.
Last week the Building Societies Association (BSA) issued a report calling for more support to help young people buy their first home, potentially including the wider-scale resurrection of 100% mortgages.