A deposit-free mortgage aimed at helping renters get onto the property ladder has been launched.
Skipton Building Society said its "industry first" mortgage would help people get out of "trapped rental cycles". As well as no deposit, The Track Record Mortgage will not require a guarantor either.
Instead, tenants who can show they can afford the mortgage and a track record of paying rent can borrow up to 100pc of the value of a property on the five-year fixed rate mortgage. Skipton has warned it expects high demand and the deal "may sell out quickly", Wales Online reports.
