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Another mortgage lender axes 100 per cent loans

Thu, 27 Mar 2008

According to reports in the mortgage news, lender Dunfermline Building Society have become the latest mortgage lender to pull their 100 per cent mortgage range for first-time buyers off the market.

Furthermore, the mortgage lender axed their 105 per cent graduate mortgage and their 110 per cent professional mortgages . Dunfermline are simply responding to market pressure like numerous other lenders have done in recent months. Market conditions currently make it impossible for lenders to meet demand in this sector.

The head of business development at the building society, Simon Cocker, was reported in the news as saying: "We have received a large inflow of mortgage applications for 100 per cent-plus products over the last few weeks. This has meant we have achieved our current quota in this area and therefore it is prudent for us to withdraw this range at present."
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