2. Barclays launches zero deposit mortgage
In April, Barclays announced that it would no longer require a deposit from borrowers purchasing a home under the Right to Buy (RTB) scheme.
Barclays revealed that it would use the RTB discount in place of a direct deposit, whilst borrowers would also receive the benefit of the reduced rates available for lower LTV mortgages.
For example, someone receiving a 40% discount on their home under the RTB scheme would be considered to have a 40% deposit, and therefore access to 60% LTV rates.
