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Homebuilders get U.K. boost from Cameron with 5pct down payments: Mortgages

Posted on 24 January 2012

The British government’s plan to help reduce down payments for new homes to as low as 5 percent will give a boost to a homebuilding industry that’s learned how to survive a slowing economy and four years of stingy credit.
Mortgage lending is less than half the level of 2006, at the end of the housing boom, with buyers now required to pay as much as 25 percent of a home’s value up front………………………………………..Full Article: Source


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