Bank’s 100% mortgage expected to spark property surge
14/07/2005 - 08:37:22Mortgage applications are reportedly set to surge following a move by First Active to lend 100% of the house price to intending buyers.
Reports this morning said the financial institution's move was likely to lead to other lenders introducing similar products, which could push up house-price inflation.
At the moment, lenders normally set a 92% limit to the amount of money they will give to house buyers.
First Active's move comes just days after the Central Bank welcomed an easing in house-price inflation and expressed concern about growing levels of personal debt.
