Lloyds Bank this week announced that it would be introducing a 100% ‘lend a hand’ mortgage designed specifically for buyers who need help from the so-called Bank of Mum & Dad.
The three-year fixed rate mortgage of 2.99%, will enable first-time buyers who don’t have their own savings to get on the property ladder.
Lloyds said the mortgage would appeal to parents who wanted to help their children get onto the property ladder but were worried about parting with their own money.
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