The 100 per cent mortgage is back – but it isn’t enough to help homebuyers

Skipton Building Society says the product will help people to get off the rental treadmill. But such deals won’t do anything to help solve the market’s real problems, argues James Moore

Skipton Building Society has launched a 100 per cent mortgage (PA)

Renters rejoice? The Skipton Building Society says it is riding to your rescue with the first “clean” 100 per cent mortgage in what seems like ages.

I say clean in that it doesn’t require a guarantor – in contrast to the small number of such products currently available on the market. That is its USP.

Trumpeting the launch, the society has produced figures to show that there are now 4.6 million households renting privately across England, more than double the number recorded in 2001.