By 
Renters in the U.K. will be able to borrow up to 100% of the value of a property in a new mortgage scheme introduced by Skipton Building Society.
Mike Kemp | In Pictures | Getty Images
LONDON — Renters in the U.K. will be able to borrow up to 100% of the value of a property without a guarantor or deposit in a new mortgage plan introduced by Skipton Building Society.
A building society is a British financial institution that provides banking services for, and is owned by, its members. The new mortgage product, aimed at first-time buyers who are currently renting, has a fixed rate of 5.49% for five years, over a maximum term of 35 years.
The average five-year rate was 5% in March, according…
Source cnbc.com
