FED:100 per cent mortgage ... forget it

AAP General News (Australia)
03-22-2011
FED:100 per cent mortgage ... forget it

First-time home buyers searching mortgage websites for no deposit home loans are being
disappointed.

Research by mortgage broker Loan Market shows internet searches for no deposit loans
have increased 28 per cent since the start of the year .. and 57 per cent since the start
of this month.

Loan Market chief operating officer DEAN RUSHTON says these mortgages were the first
products to go when the global financial crisis hit.

Financial comparison website RateCity says out of the two thousand products it monitors
only one covers 98 per cent of a home purchase .. and the majority offer 95 per cent loans.

AAP RTV cb/sb/tm/

KEYWORD: MORTGAGES (CANBERRA)

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