Overview
- The building society expanded its 100% mortgage beyond a Stoke‑on‑Trent pilot to buyers across the UK.
- Borrowers can access up to £350,000 at a 5.79% five‑year fixed rate, subject to standard credit checks.
- Eligibility requires a minimum £25,000 household income and proof of 12 months of full, on‑time rent payments.
- Based on the average UK rent of £1,366 a month, the cap implies potential mortgage payments up to about £1,817.
- Industry advisers say the deal can help disciplined renters but warn of higher costs and negative‑equity risk, urging comparisons with options such as Shared Ownership or low‑deposit mortgages.