In the News - Cheltenham & Gloucester
Cheltenham and Gloucester to cease offering no-deposit mortgages
Mortgage lender Cheltenham & Gloucester (C&G) has announced that, from today, it will no longer offer no-deposit mortgages. This means that, if home-buyers wish to take out a C&G loan, they will now need to find 10% of the value of their property themselves. This is the latest in a series of moves by mortgage lenders to reign back their risk profiles on mortgage lending in response to fears about the credit crunch.
Earlier this week, it emerged that Nationwide will now charge higher mortgage rates to any homebuyers with less than a 25% mortgage (reported in 'In the News' on 25 February 2008).
(Sources: Guardian Unlimited)
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29-Feb-2008 09:45:41
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