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We are to see a return of the 100% mortgage. This deal is to be launched this forth-coming week, this type of mortgage has not seen since the credit crunch.
These loan types were scrapped as they were criticized for being an irresponsible form of lending, allowing first time buyers to borrow sizeable amounts that they had little hope of repaying. The result has been a whole generation locked out of homeownership. There has never been such high numbers renting, the actual cost of renting is also at an all time high.

It was announced yesterday that a lender called Aldermore would become the first bank to offer a deposit free package. Aldermore was set up in 2009, and claims to offer a new take on these previously criticized mortgage deals.
This offer does not come without a catch however, potential purchasers are expected to have generous obliging parents that are prepared to put their own home up as a guarantee. There is a risk that, if things were to go wrong, both parties could end up homeless or in severe debt.

The first time buyer is able to borrow 100% of the property's value, up to a maximum of £250,000. The parents (or indeed any home owning relative) are required to guarantee up to 25% of the property's' value by using their home as collateral.
It is possible to find small building societies offering 100% mortgages, but the restrictions are quite severe.

This new deal is available to all first time buyers in England and Wales over 25, they need to be earning more than £10,000. Guarantors are only liable for the first ten years of the mortgage term, out of a maximum of 35 years.