Yorkshire Building Society said its new fee-free deal will enable first-time buyers across England, Scotland or Wales with a 5,000 deposit to purchase a property valued at up to 500,000.
While 5,000 represents a 1% deposit for those who need to borrow the maximum amount available, the key is that customers are still putting money into a deposit, they still have to demonstrate strong creditworthiness and pass an affordability assessment to be eligible for a 5,000 deposit mortgage.
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